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EM debt investors had largely expected a debt treatment would be required
Undisclosed institutional shareholder sells stake in Wednesday evening ABB
The country is unlikely to issue new dollar bonds in the near future despite a big rally in yields
Underwriting left unused after deal is 33% oversubscribed
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Nigerian syndicated loan volumes have reached their highest levels on record and are due to surge even higher as bankers prepare to launch into general syndication a $3.5bn facility for industrial conglomerate Dangote Group.
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The Islamic Development Bank has agreed a €750m facility for Pakistan – by far its biggest loan to the country to date, according to IFIS data. Meanwhile, Nigeria has asked IsDB for a $450m loan.
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The Islamic Development Bank has approved a financing agreement for an agricultural project in Mali worth $23.7m.
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Euromoney Conferences will examine Jordan's new sukuk bill when it returns to Amman on September 17 for the third Euromoney Jordan Conference. The event will be held with both the patronage and presence of Jordan’s prime minister Abdullah Ensour.
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The senior stage of South African pharma Aspen's $2bn new money loan is due to close this week, with lenders expecting the deal to have attracted plenty of commitments already as it heads into general syndication.
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Standard & Poor’s has cut Albaraka’s long and short term ratings to BB+/B from BBB-/A-3, citing deterioration in the bank’s countries of operation.