South Africa
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South Africa’s respected finance minister Pravin Gordhan was sacked on Thursday in a late night cabinet shuffle in which president Jacob Zuma dismissed of 10 ministers. The firing dismayed emerging markets experts but bond spread widening was contained despite bleak predictions for the country's economy. -
Renminbi’s share of international payments rises slightly in February, Liaoning free trade zone (FTZ) allows foreign investors to build renminbi pool, and the Chinese president Xi Jinping to meet with his US counterpart for the first time. Plus a recap of this week’s coverage.
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South African diamond mining company Petra Diamonds has picked lead managers for a dollar roadshow as the company attempts to optimise its debt liabilities.
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Life Healthcare, the South African private hospitals group, has finalised the terms for the R9bn ($712m) rights issue it is carrying out to finance its acquisition of Alliance Medical Group, the UK medical imaging services provider.
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While global equities appear to be tanking, emerging market bonds are once again on fire with inflows supporting propping up what seems a never ending bid, but as ever, idiosyncratic risks are playing a bum note on some deals.
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South Africa will meet investors in London and the US next week after announcing plans to borrow up to $2bn in the international markets this year.
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South Africa’s Nedbank is dipping its toes into Asian liquidity for a $350m three year bullet that gives lenders the option of committing in dollars and euros.
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A bold £2bn mandatorily exchangeable bond issue for Anil Agarwal, founder and chairman of Vedanta Resources, captured global headlines on Wednesday and Thursday as he used it to buy a stake of about 12% in Anglo American, the mining group.
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Standard Bank filled its vacant head of DCM post with a hire from JP Morgan after Megan McDonald was promoted to head of international investment banking last year.
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Royal Bafokeng Platinum raised R1.2bn ($92m) on Wednesday with its first convertible bond, as it ramps up its investment again after a recovery in the platinum price.
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Helios Towers Africa (HTA) saw its debut dollar bond more than three times oversubscribed on Wednesday as investors jumped at the chance to take in paper yielding more than 9%.
