Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Even if ceasefire succeeds, investors will still want a risk premium
Demand allowed the bank to cut the yield by 35bp
The country offers huge potential and possible pitfalls for investors
A piece of very rare African senior bank issuance could also come this week
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Two London-listed and Africa-focused oil firms signed loans this week, as lenders said that they are increasingly looking to regions away from sanction-hit Russia for deals.
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Zambia had to pay up for its second ever Eurobond this week, offering a nice concession to secure a $1bn 10 year bond. But a wave of demand sent the bond up two cash points in the secondary market despite the sovereign's financial difficulties, which bodes well for African borrowers with stronger credit metrics.
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African ECM bankers hailed the completion of an innovative cross listing of Nigerian oil and gas firm Seplat on Wednesday, laying the foundations for a growth in Nigerian ECM as investor sentiment towards the country grows.
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Nigeria's Zenith Bank opened books on a debut dollar bond on Thursday morning, with a yield that was at the upper end of investors requests, said a banker on the deal.
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Zambia's warm welcome from the bond market this week means that the sovereign's mooted $600m loan has been cancelled.
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African ECM bankers hailed the completion of an innovative cross listing of Nigerian oil and gas firm Seplat on Wednesday, laying the foundations for a growth in Nigerian ECM as investor sentiment towards the country grows.