Nigeria
-
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. -
Renaissance Capital has added to its Nigerian investment banking team. The Russian bank continues to expand its offering on the African continent.
-
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
-
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.
-
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.
-
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.
-
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.
-
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).
-
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.
-
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.
-
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.
