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Most recent/Bond comments/Ad
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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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Nigerian oil and gas firm Seplat launched an IPO of more than $500m on Tuesday, the biggest exploration and production flotation since the financial crisis and the first firm with a dual listing in London and Lagos. -
Investors eager for a yield pick-up are hunting deals from African Bank and similar names, according to medium term note bankers. The borrower took advantage of the demand to print its second ever private placement in dollars on Monday.
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Syndicate bankers are primed for a busy period in dollars next week following the smooth execution of four benchmarks in the currency this week despite uncertainty and volatility caused by the situation in Ukraine.
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Zesco, the Zambian government-owned power firm, has signed a $163m loan as it strives to connect swathes of the country to the national electricity grid.
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February saw a 14% fall in sukuk volume from the same period last year and a 28% decline from January. The month witnessed only 46 sukuk, compared to 78 sukuk in January, with a total value of $7.45bn.
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The dollar sukuk market has seen three issues so far this year, with three great results capped off by the Islamic Development Bank boldly entering new territory with an unprecedented $1.5bn last Thursday. But while each of these deals has stirred Islamic finance professionals to proclaim the growing profile and pools of capital for the asset class, the market is yet to see a true test of demand.
