Africa Bonds
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High yield issuers may be worried about market access, but some do not see them losing it -
Some have questioned why the issuer is running a tender for 2032 bonds alongside its new issue
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Although DRC exposure a challenge for some, copper is popular sector and ‘bellwether’ EM buyers are in book
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High yield from an issuer with major oil and gas players as shareholders attracts investors
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Hybrid capital issuance in emerging markets is picking up after a quiet few years
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Both are high quality companies in difficult operating environments
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Demand has been good for new deals during and after execution
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The trade will be the country’s second in dollars in the past year
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Hybrid bonds are rare in the Gulf and even harder to find in Africa
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Markets are 'less bubbly' after a steep rise in US Treasuries in December
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Dampened US rates outlook bad news for EM inflows but numbers don't tell full story and non-specialists step up
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Investors hope for cash inflows but no sign yet
