South Africa
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Many of the region’s states that have market access feel little need to issue new bonds
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Previous country head Richard Gush relocates to London
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South African bank secures “good pricing” and adds new lender in third 2023 term loan
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South African bank is responding greater demand amid volatile markets
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Securing a deal similar to Eskom's debt relief would cheer investors, said one banker
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South Africa’s Sasol revealed investors’ eagerness this week, but yields are making issuers’ eyes water
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A solid order book showed corporate investors will buy but other issuers may not fancy paying a coupon near 9%
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South African bank paid slightly wider margin than last year
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The company's coal usage will preclude some investors but many will prefer to engage than not
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Primary market is opening up to a wider range of credits
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The South African retail conglomerate is seeking capital to reduce its leverage
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More CEE sovereigns are preparing to issue new bonds but African issuers may need to wait
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Lack of outstanding bonds from the South African utility may encourage 'huge' indications of interest
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The petrochemicals company’s shares fell after it announced it will sell a $750m convertible
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The telecoms firm has cut international debt to 35% of total
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UK bank sells remaining 7.4% stake in overnight block
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Lancaster 101 sold a $370m stake in a narrow window between the bank holiday on Monday and Wednesday's US Federal Reserve meeting
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Barclays cuts stake in South African bank for the first time since 2017
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The sovereign secured a cheap price on its 30 year tranche, said one investor
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South Africa brings long awaited dollar offering as Croatia mandates banks
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DCM boss targets green bonds as growth market for Africa issuers
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Deal will pay investors extra if conservation projects succeed
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Senior banker will be Africa's only female general manager
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New head of Africa banking for Barclays comes from Standard Bank in Johannesburg
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Investors are looking forward to a bond from South Africa, after an almost two year hiatus, following a global investor call on Friday
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South Africa, historically one of the continent’s most favoured issuers, has come under intense investor scrutiny as it faces a wave of domestic unrest.
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Simon Denny, whom Barclays hired as head of banking for South Africa in 2019, is no longer with the firm.
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The London branch of South African lender Investec has successfully debuted in the sustainability-linked syndicated loan market.
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South African bank Investec is inviting Asian lenders to join a $450m sustainability-linked loan that is being syndicated globally.
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Two emerging market bank issuers, Emirates NBD Bank and Absa Group, launched additional tier one bonds on Thursday, as the popularity of the bank capital tool grows.
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Two emerging market bank issuers, Emirates NBD Bank and Absa Group, launched additional tier one bonds on Thursday, as the popularity of the bank capital tool grows.
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South African lender Absa has mandated banks for an additional tier one dollar offering. Absa is the latest domestic bank to enter international debt markets despite the absence of the sovereign.
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South African investment company Remgro has reduced its stake in FirstRand, one of the country’s largest financial services groups, via an accelerated bookbuild.
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South African lender Investec has secured a syndicated loan facility, with a consortium of 29 international banks. Bank borrowers are continuing to lean on their relationship lenders in South Africa, though the environment in the country remains challenging.
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South Africa is set to come to the market for a dollar bond, despite rising US Treasury yields unsettling bond investors. High yielding emerging markets borrowers are insulated from the volatility in the US govvie market for now, market participants said.
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Investec Bank plc, the London and Johannesburg-listed subsidiary of South African banking group Investec, came to the euro bond market on Wednesday to raise debt.
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The World Bank’s IFC has provided a $200m loan to Nedbank, which is part of a broader attempt to help South African banks grow their green finance operations.
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Impala Platinum Holdings, the South African platinum mining company, has launched a tender offer for half its outstanding rand-denominated convertible bonds.
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The coronavirus pandemic means many parts of the US are experiencing an unusual festive period. But emerging markets sovereigns broke another Thanksgiving tradition by flooding primary bond markets with new deals on what is usually a quiet week for new issues — even as levels of stress are rising sharply at the riskier end of the asset class. Oliver West and Mariam Meskin report.
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South African pulp and paper company Sappi has tapped the equity-linked market for financing with a new five-year R1.8bn ($120m) convertible bond.
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South African commercial landlord Growthpoint Properties has sold R4.3bn ($275m) of new shares to fund deleveraging, including repaying debt used to finance its acquisition of Capital & Regional at the end of 2019.
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South Africa's Standard Bank, which is 20% owned by ICBC, has raised a syndicated loan from a consortium of Chinese lenders. The transaction marks one of the few spots of activity in a market that has almost halved in size this year.
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Trade and Development Bank and Standard Bank, have approached lenders to raise syndicated loans, despite the sort of price widening that has pushed many borrowers away from the loan market this year.
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South Africa’s Standard Bank is set to raise a syndicated loan by the end of the month, which, according to market sources, will be provided by Chinese banks. But bankers say the pipeline for syndicated loans in Africa and the Middle East remains nearly empty, as both lenders and borrowers continue to feel the impact of the Covid-19 pandemic.
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Prosus made a barnstorming debut outing in the European bond market after Monday’s dollar trade, with the ecommerce and investment company that straddles investment grade and emerging market investor interest seeing €13.5bn of demand for a €1bn deal.
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Junk-rated South Africa has found some relief from its ballooning fiscal deficit through multilateral institutions, which are helping prop up its battered economy. Though the government has supported domestic lenders, there may yet be opportunities for them to enter international markets, some believe.
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Redefine Properties, the South African landlord, has completed a tender offer for all of its outstanding €117.2m bonds that are exchangeable into shares in RDI Reit, the London-listed real estate investment trust.
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Redefine Properties, the South African real estate company focused on commercial properties, has completed a buy-back of its outstanding €117.2m 1.5% exchangeable bonds due 2021, as part of a wider restructuring of the firm.