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International investors take most of the book for the first time as Zabłocki's investment firm says it expects to make no further sales
Despite rough market conditions and angst over rates, array of deals have been well taken
It is difficult to see issuance conditions growing much better in the foreseeable future
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Bond market participants fear that the G20 common framework for debt relief risks doing more harm than good. The warning came this week as confusion regarding the private sector’s role in Ethiopia’s proposed use of the framework dented government bonds across sub-Saharan Africa. The lack of clarity must be quickly rectified to avoid lasting contagion in African bond markets, market participants said. Mariam Meskin and Oliver West report.
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Three African issuers entered debt markets this week and raised cash at competitive levels, despite a difficult external backdrop of debt relief in the region and continued US rates weakness.
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Though the Chinese New Year on Friday is set to put a temporary hold on emerging market bond issuance, investors expect March to be a big month of supply as issuers take advantage of healthy credit conditions amid a period for high redemptions.
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India’s well-established renewable energy companies have long been known for selling green bonds, but this week showed that new issuers are ready to join the fray — not just with green deals, but also with sustainability-linked transactions. Morgan Davis reports.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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European Investment Bank: Supporting sustainable development in North Africa