Africa Bonds
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Ghana has learned the lessons of Zambia's debt restructuring -
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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The company's coal usage will preclude some investors but many will prefer to engage than not
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‘EM risk is back in vogue,’ say market participants after FIG flyer
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There would still be hurdles and an agreement may even make defaults more likely
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Despite banking crisis-induced volatility, EM is mostly still in good shape, according to investors
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“Rumours of the demise of the EM market have been greatly exaggerated”
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Both tranches from the rare issuer tighten by 25bp
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Analysts say the short-term risk of Nigeria falling into debt distress is low
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The country is in better shape than neighbours despite a blow from the war in Ukraine
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Bookrunner hails borrower’s “outstanding” result versus its regular curve despite pricing north of 10% barrier
