South Africa

Naspers, the South African media group, is amending and extending a $2.25bn five year loan led by Barclays and Citi, having issued its largest ever bond for $1.2bn in the summer.

Investec is looking for two syndicated loans totalling $530m, one for its South African business and the other for its London arm, according to bankers on the deal.

Brait, the South African private equity firm listed in Luxembourg and Johannesburg, issued a £350m convertible bond on Friday September 11. A banker at one of the leads said the deal, a true credit instrument, was very unusual for a company of this kind.

Outflows from emerging market portfolios since the August unrest are edging ever closer to the volumes seem during the Taper Tantrum of 2013.

Mediclinic, the South African healthcare group, achieved strong pick up on its R10bn ($770m) rights issue to fund its takeover of Cinven’s remaining stake in London-listed Spire Healthcare.

AngloGold Ashanti is offering to purchase for cash up to $810m of its $1.25bn 8.5% 2020s, surprising some analysts who had been expecting the company to wait until the call date on the notes next year to repurchase the bonds.

The rapid growth in renminbi products and services in South Africa shows the country is well positioned to become Africa’s RMB hub. This is despite the growing competition from other countries on the continent, says Standard Bank.

South Africa is experiencing a difficult week in credit markets, with credit default swaps that reference its debt hitting their widest point for two years.

There aren’t many corporate insolvencies that would make a good movie. But any scriptwriters out there wanting to emulate the success of the Enron film should read our coverage of Afren this week.

Ukraine’s sovereign debt restructuring, Argentinian primary elections and a potential Turkish coalition government are keeping debt bankers alert while the primary bond market takes its summer break.

Oceana Group, a South African fishing company incorporated nearly a century ago and listed in Johannesburg, intends to raise R1.2bn ($94m) through a rights issue.

Renminbi usage in South Africa has soared, according to data published this week by Swift. But although the country is still the only official offshore RMB hub in Africa, others are increasingly coming into the focus of Chinese regulators' internationalisation agenda. Kenya could soon see its first RMB clearing services, GlobalRMB understands.