South Africa
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South Africa’s FirstRand Bank will sign its $225m loan next week, according to a banker close to the deal. -
The Development Bank of Southern Africa is tightening ties with Japanese lenders in pursuit of cheaper funding, having signed a $250m loan with Japanese banks earlier this year.
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IFC has issued its first ever rand denominated green bond as it continues to expand its global programme of climate aware financing.
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ArcelorMittal South Africa is seeking to raise R4.5bn ($321m) to improve its weakened financial position, with a rights issue fully underwritten by its parent, ArcelorMittal Group.
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Lonmin's $407m rescue rights issue passed its first hurdle on Thursday (November 19), when shareholders voted strongly to approve the deal. Lonmin's shares fell 2.6%, but that was mild by recent standards.
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FirstRand Bank was due to complete a $225m loan this week and bankers predict that more South African banks will come to the market regularly with smaller deals.
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South African media group Naspers has amended and extended a $2.25bn five year loan and increased it to $2.5bn.
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South African media group Naspers has finished amending and extending a $2.25bn five year loan and has added another $250m to the deal size, taking it to $2.5bn.
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South Africa’s Investec Bank is accessing the syndicated loan market for the fifth time this year, and is shaking things up by tapping Asian bank liquidity for a $100m three year borrowing.
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Investec Bank signed its third and fourth syndicated loans of the year last Friday, and held a bank meeting this week for its fifth loan. The bank plans to stick to smaller, more regular loans in a volatile environment for emerging markets.
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The Republic of South Africa starts a non-deal roadshow next week following a recent medium term budget policy statement, but also has a firm mandate outstanding for an international bond deal.
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South Africa’s FirstRand Bank is in the market for its second loan of the year, while fellow South African firms Investec and Naspers are due to close deals soon.
