Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The trade, like previous yen issuance, carries a guarantee
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
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Tunisia’s National Constituent Assembly has added takaful chapters to its existing insurance framework, as part of its move to integrate Islamic finance into the country’s financial system.
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Port Autonome d'Abidjan, owned by the Ivory Coast government, has signed a €200m bridge loan to finance expansion projects. -
A dispute between shareholders of the Algerian subsidiary of Bahrain’s Al Salam has seen Algeria’s central bank commission place the bank under temporary administration.
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Mota-Engil Africa, a subsidiary of the Portuguese construction group, pulled its IPO on Friday, the latest deal to be hit by plunging sentiment in Europe’s equity markets because of fears about the periphery.
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The Republic of Senegal starts investor meetings next week for a Eurobond. Ivory Coast is already on the road for its own deal. Should both issuers pick the same maturity — 10 years is popular with African sovereigns — bankers on the Senegal deal expect the two credits to price close together. Analysts, however, disagree about specific yields, but think Senegal will have to price wider.
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Helios Towers Nigeria sold a debut dollar bond on Tuesday — only the second international corporate bond from that country. The notes offer a useful new benchmark for Nigerian corporates, with at least one follow-on deal expected in the next few weeks. On the financial side First Bank of Nigeria began a roadshow ahead of a tier two subordinated note. But First City Monument Bank postponed a debut bond deal, after failing to see eye to eye with investors on pricing.
