Africa Loans

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.

South Africa’s FirstRand Bank has successfully completed its Asian-bank focused syndication for $540m, an increase from its launch amount of $250m.

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.

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.

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.

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.

Puma Energy, the midstream and downstream oil company, has signed a five year loan that was oversubscribed by its relationship banks.

FirstRand Bank has begun syndication of a $250m loan, aimed at Asian lenders.

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.

Tanzania has signed a $500m loan with Credit Suisse and a syndicate of other banks, according to an official close to the deal.

The summer lull is at an end and borrowers have sprung back into action. The BondMarker voters have delivered their verdict on which of last week's deals impressed.

In spite of the recent downgrade of South Africa and five of its largest banks, Standard Bank and Investec have received overwhelming demand from international banks for their loan financings.