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At London investor day, supranational reveals deals and plans for new funding and investments, including fully African project financing
The company is the only corporate issuer in North Africa, making it popular for investors
The company should benefit from a rise in fertiliser prices due to the Iran war
Nigeria plans a total return swap, following peers on the continent in the last 12 months
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Early June optimism proves to have been yet another false dawn
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Investors see little reason to play in primary
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But a busy holiday period means borrowers may have to wait until into June to test the market
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Observers expect more issuers to roadshow then decide against bringing deals
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Borrowers must be ready to jump into picky primary markets as stigma of failure falls
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EM borrowers have little to lose by approaching investors. Cowering in the corner could have a higher price