South Africa
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Old Mutual has launched a sale of shares in Nedbank Group Ltd, one of South Africa’s largest banks, on behalf of some of its investors who could not receive them as part of the bank’s unbundling from the Old Mutual Group, which was announced last month. -
Steinhoff has asked its creditors for a one month extension on its multi-billion euro debt restructuring process, with the South African retailer saying on Monday that it needs longer to finalise documentation.
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South African chemicals and energy company Sasol has released initial price thoughts on a dual tranche dollar bond on Thursday morning in London.
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Shares in Investec, the Anglo-South African banking group, rose 8.7% on Friday after it announced that it had decided to spin off and list its asset management unit, following a strategic review.
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African borrowers will soon add a new flavour to the wave of Middle Eastern issuance that has so far dominated the autumn pipeline.
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South Africa’s Democratic Alliance (DA) has sent a freedom of information (FOI) request for full terms of a $2.5bn-equivalent loan from China to utility Eskom, with the official opposition party fearing a potential loss of ownership of the company to its Asian creditors.
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South African precious metals mining company Sibanye Stillwater has launched a tender process to repurchase some of its high yield and convertible bonds.
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Transnet is relying on the goodwill of its banks after an extraordinary auditing process at the infrastructure company triggered a document clause allowing creditors to accelerate a loan payment. The tricky situation for the South African state-owned company comes at a time when the country is rebuilding its reputation in markets after a painful year.
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South Africa’s Transnet is relying on the goodwill of its bank lending groups after an extraordinary auditing process at the infrastructure company triggered a document clause allowing creditors to accelerate loan payment.
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Sabvest, the South African investment holding company, has substantially boosted its liquidity after two investment vehicles sold out of the stock.
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South Africa state-owned utility Eskom’s return to the international bond markets on Thursday was hailed as proof of the faith investors have in Cyril Ramaphosa, the country's president. And it could well mark the beginning of the country’s rehabilitation in the debt capital markets as Eskom is widely thought of as South Africa’s biggest and most public financial problem. Francesca Young reports.
