Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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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Shares of African Bank Investments (Abil), South Africa's biggest unsecured lender, plunged this week as the bank unveiled a need for at least $790m of new capital, despite a recent rights issue, because of losses and writedowns.
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The International Swaps and Derivatives Association on Wednesday delayed its ruling on whether $900m of credit default swaps relating to Banco Espírito Santo would transfer to the newly created Novo Banco, or remain in the rump bad bank. While chances of recovery of sub debt investments seem slim, BES’s creditors may be able to take some solace from the apparent transfer of loans to BES Angola to bridge bank Banco Novo.
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Shares of African Bank Investments, South Africa's biggest unsecured lender, plunged this week as the bank unveiled a need for at least $790m of new capital, despite a recent rights issue, because of losses and writedowns. -
Ecobank Nigeria has priced its $200m seven year non-call five deal at a yield of 9% with a large tightening in price guidance that seemed to brush aside critics who said printing a note this week would be challenging. But the note was sold with a size that several syndicate officials away from the deal said was smaller than the “benchmark” size originally advertised.
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South Africa headquartered Econet Wireless Global has closed a $150m financing facility with Export-Import Bank (Afreximbank).
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Ecobank Nigeria has released initial price thoughts at high 9% area for a benchmark seven year non-call five bond. Some bankers away from the subordinated note had questioned whether the deal would be well received after Seven Energy’s note was postponed last week because of market volatility but the books are already covered, according to a syndicate official on the deal.
