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Power purchase agreements and related revenue will back novel warehouse deal
Markets may not be shut for too long, and African sovereigns have managed debt well
Sovereign pays at least 25bp of concession but points to healthy demand after broader spread widening
The dollar market is going to be an unreliable friend for some time
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◆ First MDB in fixed rate dollars since February ◆ ‘Someone has to’ reopen the market ◆ Investors in ‘wait-and-see’ on US’ involvement in MDBs
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Second cornerstone-heavy deal this week after Röko IPO
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Listed investment company is striving to cut debt costs
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◆ German and European spending needs rile SSA market ◆ GSE reform in the US, green reform in the EU ◆ Saudi Arabia leads Gulf diversification out of dollars
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Sovereign pays zero new issue premium as books for 10 year deal top $4.9bn
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