Africa Loans
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Japan Bank for International Cooperation (JBIC) and a syndicate of lenders have provided a $2.73bn loan to finance the construction of a railway and upgrade a port in Mozambique, which will ensure the long term supply of coal to Japan from the African country. -
Energy and chemical company Sasol has signed South Africa’s biggest loan deal of the year so far — a $3.9bn revolving credit facility with 17 banks.
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Afreximbank has activated the accordion feature on a 'Samurai' loan, aimed at Asian banks, it signed in March, increasing the loan amount to $150m. Two new banks have joined the facility.
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FirstRand Bank has launched its second syndicated loan of the year, two weeks after signing a $540m loan with Asian banks. The new $500m loan is aimed at international banks, and is priced more tightly than other loans for South African banks this year.
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South Africa’s FirstRand Bank has successfully completed its Asian-bank focused syndication for $540m, an increase from its launch amount of $250m.
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Trade & Development Bank (TDB), the eastern and southern African development bank previously known as Preferential Trade Area Bank, is making its debut in the Middle Eastern loan market with a $200m facility.
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Kenya’s largest power producer Kenya Electricity Generating Company (KenGen) is looking to raise $300m in the loan market, which the World Bank is providing a $180m guarantee for.
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African countries are moving full steam ahead to develop their economies through Chinese-funded railway infrastructure, hoping faster growth will forestall concerns about the costs and their ability to pay it back.
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Ghana Cocoa Board has signed its annual financing for its cocoa harvest at $1.3bn with 24 lenders, the 25th time the organisation has done the facility.
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Puma Energy, the midstream and downstream oil company, has signed a five year loan that was oversubscribed by its relationship banks.
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FirstRand Bank has begun syndication of a $250m loan, aimed at Asian lenders.
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South African bank Investec signed a $600m syndicated loan on Wednesday, double the initial launch amount, making it the second successful bank financing to come out of the country this month after Standard Bank’s $1bn loan.
