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Africa

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Busy EM week lines up in wake of Fed


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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  • FIG
    First Bank of Nigeria is planning to bolster its tier two capital with a dollar bond and started a roadshow on Wednesday. The bank considered selling a bond last year but believes the timing is now right, and is hoping improved reporting standards for Nigerian companies will help put investors at ease, said a First Bank official.
  • FIG
    Another LIVE testing
  • The International Islamic Liquidity Management Corp has attracted criticism for delays in getting its programme of short dated sukuk underway. But IILM’s project must not be rushed if it is to achieve the success the Islamic market badly needs.
  • IFIS is conducting a poll of excellence in the Islamic finance market ahead of our 2013 awards dinner in Dubai.
  • South African electricity provider Eskom kicked off a roadshow this week to market its second dollar deal.
  • SSA
    The International Finance Corporation (IFC) has been granted permission by the Zambian Securities and Exchange Commission (SEC) to issue Zambian kwacha denominated bonds on the local market. The IFC is the first international issuer to be approved for such a trade and hopes that the deal will encourage more activity on the country's domestic bond market.