Nigeria
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Many of the region’s states that have market access feel little need to issue new bonds
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Eager investors appear willing to ignore hawkish signs with more borrowers likely to contemplate bonds
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Analysts say the short-term risk of Nigeria falling into debt distress is low
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Africa sovereign spreads hit hard despite oil price surge
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Angola offered less premium to investors than Nigeria did last month
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African sovereign was one of two issuers to revive CEEMEA bond supply following the invasion of Ukraine
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Bankers had suggested any dovish tilt from the Fed would lead to new EM issues
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Nigerian state-owned bank took more than €1bn of orders on maiden visit to bond market
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Nigerian debutant takes rare euro path as EM primary market brightens
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State-owned Nigerian issuer takes less travelled route in first visit to bond market
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African infrastructure investor widened its lender pool and secured a tight spread on new loan
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CBoM follows Nigeria and Egypt in trading below reoffer as US Treasuries sell off
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Nigeria took a bold step on Tuesday, bringing three tranches of dollar paper to a turbulent market
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Market participants are preparing for an imminent trade from Nigeria, after the government confirmed it was eyeing a September bond
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Bond market participants are eagerly anticipating a trade from Nigeria in the coming weeks, which would be the seventh sub-Saharan African sovereign new issue since the start of the year, with issuers making the most of the hunger for high yielding credits.
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Nigerian oil and gas exploration and production company Seplat Petroleum entered the international bond markets on Thursday seeking to raise dollar funding. As primary issuance re-starts in the CEEMEA region, Seplat is one of a few high yielding names testing the temperature.
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A number of sub-Saharan African sovereigns are eyeing the Eurobond market, after a year that saw dismally low levels of capital markets issuance from the region. But investors are still on the hunt for yield, market participants say, which can be found in abundance in Africa.
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Ecobank Nigeria, part of the pan-African banking group Ecobank Transnational, was set to raise dollar debt in the bond market on Wednesday, underscoring investors' appetite for exposure to sub-Saharan Africa.
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Ecobank Nigeria, a member of the pan-African banking group Ecobank Transnational, has mandated banks to arrange a dollar bond after a hiatus from the market.
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Nigeria’s Bank of Industry, which is majority state-owned, has raised a $1bn syndicated loan in one of the rare sparks of emerging market loan activity over the last 12 months. After a disappointing year, bankers are longing for a return to pre-Covid issuance volumes.
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First Bank of Nigeria became the first African bank to print a eurobond in 2020 on Tuesday, raising $350m despite a turbulent backdrop in Nigeria.
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Africa Finance Corp, the pan-African development finance institution, printed its first green bond on Monday – the first in Swiss francs from a CEEMEA supranational.
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Africa Finance Corporation (AFC), the pan-African development finance institution, has held investor calls ahead of its first green bond issue that Swiss franc bankers expect to launch next week.
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The Africa Finance Corporation, the pan-African development finance institution (DFI), has mandated a pair of banks to lead its first ever green bond issue, which it will sell publicly into the Swiss franc market.
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Gillmann to join Barclays for logistics — Citi picks new Nigeria head — Charles, Habeck hired by Greensill
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Ireti Samuel-Ogbu will replace Akin Dawodu as Citigroup's country officer for Nigeria.
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The Nigerian National Petroleum Company has raised a financing package, backed by multilateral lenders, commercial banks and oil trading companies.
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The Africa Finance Corp, the Nigeria-headquartered multilateral development bank, has issued its first Eurobond of 2020, winning three times oversubscription.
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Africa Finance Corporation (AFC), the Nigeria-based multilateral development bank (MDBs), has emerged at the forefront of regional coronavirus rescue efforts, providing financing for emergency hospitals, medical aid and more. As Africa finds itself at the centre of global calls for emergency financing and debt relief, the AFC’s chief executive, Samaila Zubairu, talks to GlobalCapital about the bank’s response to the crisis, how its own fundraising plans have been affected, and the future of Chinese capital in the region.
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Nigeria, Africa's largest economy, is the latest emerging market to approach international financing institutions for help to deal with Covid-19.
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Stanbic IBTC Holdings, the Nigerian subsidiary of Standard Bank, has raised a loan of $150m from a consortium of international lenders, according to bankers. A number of African banks have come to market over the last 12 months, defying economic and country-specific risks to achieve attractive terms on their financing, a trend that is likely to continue.
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A popular frontier market trade in Nigerian open market operations (OMOs), central bank securities, has been faltering on the back of local currency depreciation, which if deepened will force foreign market participants to consider eating into their returns with an FX hedge.
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Renaissance Capital has added to its Nigerian investment banking team. The Russian bank continues to expand its offering on the African continent.
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Mann+Hummel struggles in Schuldschein market amid splurge in auto trades — Bureau Veritas returns to USPP market — Seplat turns to loans for Eland buy — Endava swaps to syndicated sterling borrowing — Bravida refis revolver, eyes more buys
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IHS, the Nigerian telecom towers group, hit screens on Wednesday for a dual tranche bond. It received strong demand and the leads were able to tighten the spread and add an extra $300m to the longer tranche.
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IHS, a telecoms provider based in Nigeria, hit screens on Tuesday for a dual tranche bond. The proceeds will go to finance a tender offer of the issuer’s outstanding paper.
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An expected return of Brexit volatility means that there are likely to be fewer UK firms doing IPOs in the fourth quarter of the year, but London will continue to host high profile international listings to make up the shortfall.
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The £540m IPO of Airtel Africa, the African division of India’s Bharti Airtel, has been priced at 80p, the bottom of the initial range, following a $100m anchor order from an existing investor, according to a source close to the transaction.
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Investors are calculating the value of Airtel Africa, the African subsidiary of Indian telecoms conglomerate Bharti Airtel, as it is going ahead with a floatation on the London Stock Exchange (LSE).
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Ecobank launched its debut bond on April 11, but less than a week later, the price has shot up by between four and five points, prompting questions about the bond’s execution.
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African equity capital markets deals could bolster emerging market issuance figures this year and provide a post-Brexit boost for London where some firms are tipped to dual-list.
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Pessimism hangs over Nigeria's chances of entering the loan market in 2019 as the country battles an economic slowdown, a commodity slump and political uncertainty. But not all loans bankers are so glum about the chances of Africa's most populous nation and biggest oil producer raising debt from international financiers.
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Nigeria was on Wednesday able to print the full size of the bond issue approved by its parliament, paying up for the privilege but drawing praise for managing a market that proved too tough for many.
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Nigeria is back in capital markets, undeterred by a volatile backdrop that has kept other borrowers from accessing the market.
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Two emerging market borrowers have been forced to postpone planned deals this week, with investors demanding better yields to risk their cash in the volatile market.