Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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The country is unlikely to issue new dollar bonds in the near future despite a big rally in yields
Underwriting left unused after deal is 33% oversubscribed
Simbah Mutasa and Sjoerd Van Hooijdonk step up from regional leadership roles
New government is seeking an IMF deal, which will likely require a debt rework
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African loan bankers are picking up the pace as the window to get deals done before the end of the year starts to close. Among others, Liquid Telecom is in the market, while Standard Bank in South Africa is looking to come again with its second deal of recent months. -
Cote d'Ivoire's Shelter Afrique will not tap the Eurobond market for at least another 18 months, said Godfrey Waweru, director of finance for the housing finance company.
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Having used the proceeds of its recent landmark sukuk deal for pre-funding its 2015 borrowing requirement, South Africa is only planning to issue $1bn in the international debt capital markets next year.
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Nigeria is not planning to tap the international debt capital markets in 2015, but its next conventional dollar bond will likely be a 30 year and the country is also considering other markets such as Asian currencies and sukuk, Abraham Nwankwo, director general of the country’s debt management office told GlobalCapital.
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Banks are receiving more and more reverse enquiries for MTNs and the smaller sizes and potentially less onerous documentation would suit many African issuers better than benchmark funding at this stage. The combination of these factors means that African MTN issuance is set to boom in the next six to 12 months, said Matt Duggan, a syndicate official at Absa/Barclays in Johannesburg.
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Nigeria is not planning to tap the international debt capital markets in 2015, but its next conventional dollar bond will likely be a 30 year and the country is also considering other markets such as Asian currencies and sukuk, Abraham Nwankwo, director general of the country’s debt management office told GlobalCapital.
