Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
ECA-backed deal comes after AFC raises $2bn to fund infrastructure development
Five year bond set to be priced much tighter than the development bank's last senior issue
Investors were eager to tender their bonds despite initial resistance
Inclusion of a variable rate instrument was not acceptable to official creditors
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European stockmarkets began the first full week of the year in pitiful shape. Shares plummeted on Monday, as political concerns surrounding Greece and the falling price of oil further spooked investors.
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IHS Towers will begin the roadshow for its loan in the next week or so, according to a banker involved with the deal. The Nigerian telecoms infrastructure company is expected to wrap up the loan by February. -
African banks have been busy in the loan market over the winter break, with Nigeria’s First City Monument Bank (FCMB) signing term loans and Stanbic Uganda rumoured to be coming to market. Meanwhile, Zenith Bank of Nigeria has revealed the allocations of its recent $300m loan.
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Zenith Bank of Nigeria is signing a $300m loan today – its first in the international syndicated loan market. The deal was increased from $250m after being oversubscribed.
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Banque Ouest Africaine de Développement (the West African Development Bank) will raise $1.35bn in the regional capital markets over the next four years. The bank also announced plans to borrow $460m from international capital markets at a board meeting in Benin last week.
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Strong deals from Liquid Telecom, Fidelity Bank, Lake Turkana Wind Power and Africa Finance Corp in recent weeks have highlighted the popularity of supranational and telecoms deals in Africa.
