Kenya

Standard Bank Kenya (Stanbic CfC) is paying around 45bp more for its latest loan than when it last issued, less than a year ago.

Kenya’s two year sovereign loan grew from $600 to $750m in syndication, boosted by the lack of syndicated loans elsewhere in Africa this year.

Lead bankers are finalising allocations for Kenya’s $600m sovereign loan and expect it to grow from its initial size.

Kenya will issue its second infrastructure bond next week, said the governor of the Central Bank of Kenya, Patrick Njoroge.

Kenya is offering to pay a margin 45bp higher than on its last loan, signed in 2012, as it syndicates a new $600m two year financing. The loan is drumming up strong interest.

The Kenyan government has launched syndication for its second syndicated loan, a $600m two year deal. Bankers expect interest from a broader spectrum of lenders than the country's first syndicated loan in 2012.

The Kenyan government will launch into general syndication a loan that could raise $750m in the next couple of weeks, according to a lead banker.

In Stanbic Kenya’s latest $155m loan, the bank tightened pricing by 5bp for the two year tranche compared to what it paid last year.

Stanbic Kenya included its first ever three year tranche as it signed a $150m loan in Dubai today (Monday), after increasing the deal from $100m.

Standard Bank is planning a loan for Stanbic Nigeria, its third loan for a subsidiary following deals it completed for Stanbic Kenya and Stanbic Zambia in recent weeks.

Ghana’s Cocobod, Stanbic Kenya and Stanbic Zambia will all sign syndicated loans next week, according to bankers on the deals.

Stanbic Kenya launched a $100m loan on Monday and Stanbic Zambia is marketing a $50m deal, according to bankers.