North Africa
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The subordinated debt premium was smaller than that offered by some other EM hybrid issuers -
The company is the only corporate issuer in North Africa, making it popular for investors
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The company should benefit from a rise in fertiliser prices due to the Iran war
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Even if ceasefire succeeds, investors will still want a risk premium
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Sukuk from Egypt, priced on Tuesday, have proved just as popular in the secondary market as it was in syndication
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African sovereign 'always' finds big demand, said one observer
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Yields are far, far lower than when Egypt last printed in the format
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Financing will be used to build out infrastructure
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Africa’s first covered bonds could appear in the coming months
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A wide spectrum of borrowers eyeing primary market after weeks of pause
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The company is offering investors about 40bp of concession at initial price talk, said a lead
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New issue premiums have risen in the European corporate market
