South Africa

The £920m loan for Steinhoff’s bid for Darty remains in place, although the South African firm has been outbid by French retailer Fnac.

Just two working days after Numis’s dashing block trade in Saga stock on Thursday last week, Credit Suisse brought another sparky, sole-managed deal to the market on Monday night, with a £1bn sale of SABMiller shares for Jan Kulczyk, the Polish billionaire.

Standard Bank of South Africa has grown its loan from $600m to $1bn in syndication, largely driven by demand from the four Chinese lenders in lead roles.

Steinhoff International, the South African furniture maker and goods retailer that has been on an acquisition spree, raised €1.1bn on Thursday with a convertible bond that bucked the recent trend of deals that have struggled, partly because it was the kind of simple, traditional structure investors like.

South African furniture retailer Steinhoff International has nearly completed syndication of its £920m loan to buy French retailer Darty, according to a banker close to the deal.

South Africa’s Investec Bank expanded the syndicate for its latest loan from 17-20 banks, including two Chinese lenders.

The Brics bank is to finally make its capital markets debut later this month by issuing green bonds in RMB with the proceeds to be channelled into energy and infrastructure projects, sources have told Emerging Markets, a sister publication of GlobalCapital Asia.

South Africa's Investec Bank signed a $635m loan on Friday. The loan is its seventh since the beginning of last year, as it raises funds ahead of potential ratings downgrades.

South Africa raised $1.25bn with its latest SEC registered bond on Thursday, amid a slew of negative headlines and what bankers described as a weak market backdrop.

Strong demand was expected to propel South Africa’s new 10 year note to a successful conclusion, with a 35bp-50bp concession tantalising investors before the US open, despite a political crisis in the country.

South Africa is looking to add another point to its dollar curve and has mandated banks for a 2026 bond amid attempts to impeach its president, Jacob Zuma.

Spar Group, the South African grocery and home improvement wholesaler, raised R2.2bn ($143m) of new capital in a successful accelerated bookbuild on Tuesday night.