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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Nigerian oil and gas firm, Seven Energy is out with guidance for its comeback bond. The leads have set a wider guidance than was offered in July, when the borrower had to abort a deal, and will be hoping that the poor performance of this week’s markets doesn’t blight its return. -
South African retailer Woolworths completed a 10bn ($937m) rights issue on Monday that will fund its purchase of an Australian peer.
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Nigerian oil and gas firm Seven Energy is returning to the bond market after postponing a deal in late July, this time in a stronger position with commitments from two supranationals. It bodes well for a deal that a pack of prospective Africa corporate borrowers will be watching carefully, said bankers on the deal.
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Nigerian corporate Seven Energy is returning to market with a seven year non-call three deal, which it had to abort in late July because of a downturn in the CEEMEA market. But new commitments from two public sector entities means Seven is in a stronger position than before, which bodes well for a deal that a pack of prospective Africa corporate borrowers will be watching carefully, said bankers on the deal.
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Nigerian holiday firm Transcorp Hotels is set to raise funds for new hotels through an IPO that will be launched this week.
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The Republic of South Africa printed a debut sukuk this week, which represented a tightly priced first foray into a new investor base for the issuer and a benchmark for the country’s corporates to follow, said bankers on the deal. But their counterparts away from the transaction questioned the claims of tight pricing and pointed to what they saw as a sour performance in the secondary market.
