Africa Bonds
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The country can now repay bonds due in June -
The country has suffered liquidity problems
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Boad's hybrid has a maturity date, unlike those from AfDB and AFC
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Covered and corporate issuers almost wholly responsible for lower volumes
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The development bank had to pause plans for the original trade in 2022
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Three high yield trades on Tuesday drew healthy demand
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Not long ago five year bonds yielded over 20% and investors were worried about debt distress
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Market participants sceptical new Trump administration will take a gradual approach to tariffs
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High yield issuers may be worried about market access, but some do not see them losing it
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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
