Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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◆ Why emerging market issuers are doing less in dollars ◆ Republic of Congo located between rock and hard place ◆ The GlobalCapital Podcast was brought to you by the numbers 17, 100 and the whole Alphabet
The yield was ultra high but Congo had little room to manoeuvre
Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
Observers have questioned why the country is issuing debt at this price
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Ecobank Nigeria on Thursday contributed to the barrage of Africa bond mandates, picking leads for a debut subordinated dollar bond. The bank finishes a roadshow on August 1, and the appetite evident in recent Africa sovereign deals means a debut sub deal in the middle of summer is by no means off the cards, said bankers away from the bond. -
Ecobank Nigeria on Thursday contributed to the barrage of Africa bond mandates, picking leads for a debut subordinated dollar bond. The bank will finish a roadshow on August 1, and the appetite evident in recent African sovereign deals means even a debut sub deal in the middle of summer is by no means off the cards, said bankers away from the bond.
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African Export-Import Bank launched a $500m five year bond that traded up in the secondary market after being priced on Tuesday. The borrower had to contend with a downgrade from Standard & Poor’s in the run up to the deal, but still managed to price a three times subscribed bond with respectable new issue premium.
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Nigerian oil and gas company Seven Energy has joined the burgeoning family of Africa high yield borrowers, picking banks for a benchmark sized debut dollar deal. An African mining corporation is also eyeing the high yield market, and bankers are expecting a steady procession of corporate deals from the continent throughout the rest of this year.
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Nigerian oil and gas firm Sirius Petroleum launched a capital raise on Wednesday that will help fund a new well if it can find further funding after the deal is completed.
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African Export-Import Bank’s $500m five year bond was trading up in the secondary market on Wednesday. The borrower had to contend with a downgrade from Standard & Poor’s in the run up to the deal, but still managed to price a three times subscribed bond with respectable new issue premium.
