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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First Bank of Nigeria priced the first dollar tier two bond from the country in over six years on Wednesday, and analysts are expecting its peers to follow. The deal achieved only a modest oversubscription, but syndicate bankers suggested this was down to tight pricing.
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The International Islamic Liquidity Management Corp will this month issue $490m of sukuk commercial paper — the first of its kind in the Islamic market — after more than 2-1/2 years of work on the project. -
Eskom drew $4bn in orders for its $1bn 10 year bond on Tuesday, although analysts argued the issuer was generous with its pricing.
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First Bank of Nigeria is aiming to price its tier two dollar bond on Wednesday afternoon and already has enough orders for a benchmark print, said bankers working on the deal.
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Banque Centrale de Tunisie, the central bank of Tunisia, priced a 10 year Samurai bond on Wednesday guaranteed by the Japan Bank for International Cooperation. The size fell short and the pricing wide of the issuer’s last Samurai deal, though bankers involved with the trade said the result was positive given the instability in North Africa throughout 2013. The deal followed Mexico’s own triple-tranche Samurai deal, which was priced on Tuesday.
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How typical of big M&A deals — you wait all year and then several come along at once. But loans bankers are split as to whether this is the beginning of a wave of new money deals or just a welcome break from a sea of refinancings, according to the latest poll by EuroWeek Loans.
