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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Atlas Mara, co-founded by Bob Diamond, has poached John Vitalo from Barclays to fill the vacancy for a CEO.
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Zambia’s new 10 year dollar bond was trading up in the secondary market on Tuesday after attracting $4.3bn in orders for its $1bn print. Debt bankers on the bond were surprised by the strong reception given Zambia’s financial difficulties, which bodes well for African borrowers with stronger credit metrics. -
Zambia opened books on the first African sovereign deal of 2014 on Monday morning, starting with a large new issue concession to compensate for a weak credit story. A successful bond could help usher in a run of issuance from Zambia’s peers, with several African sovereigns in the process of planning deals.
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Tullow Oil, the London-listed but Africa-focused oil exploration and production company, has followed up last week's successful bond issue with a $750m refinancing loan.
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Caracal Energy, a London-listed oil and gas company, has signed a debut $140m reserve-based senior secured facility to develop its assets in Chad.
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OCP, the Moroccan company that claims to be the world's largest phosphate exporter, will start a roadshow on Tuesday for a benchmark dollar bond. It would be the first corporate Eurobond from Morocco.
