Africa Loans
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African Export-Import Bank has sent a request for proposals for a loan of $750m, according to a banker who received the invitation. While PTA Bank has revealed the pricing for its $320.5m loan. -
African Export-Import Bank has sent a request for proposals for a loan of $750m, according to a banker who received the invitation.
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Steinhoff completed syndication of $4bn of acquisition loans this week with the deal going “better than expected", according to bankers. The loan market has not shown signs of fatigue for the South African-based furniture retailer, even though the borrower has already asked a lot of the market this year.
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African Export-Import Bank (Afreximbank) is signing banks into its $250m Asia focused loan this week and has sent out requests for proposals for a much larger deal.
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Banks are signing documents for the $4bn of acquisition loans for South African-based Steinhoff on Wednesday. The deal has gone “better than expected,” according to one lead banker.
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The Eastern and Southern African Trade and Development Bank (PTA) has chosen seven banks to lead its latest loan refinancing which launched into syndication this week.
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The $1bn loan for telecoms firm MTN needed an accordion feature to get it to target size, even though the loan market has so far shrugged off the volatility surrounding allegations against the country’s finance minister.
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The loan for South Africa’s MTN, which is partly underwritten by BAML and Citi, may have to include an accordion feature to hit its $1bn target size, said a banker on the deal.
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The $4bn of loans for Steinhoff’s acquisition of Mattress Firm are in syndication and due to be signed next week, according to a banker involved in the deal.
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A couple of banks are finalising their approvals for the $1bn loan for South African telecoms group MTN and the deal is due to sign before the end of next week.
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Stanbic Bank Uganda, a unit of South Africa’s Standard Bank, is refinancing an $85m loan signed last year for a smaller one, according to one banker on the deal.
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The Eastern and Southern African Trade and Development Bank (PTA) is preparing to refinance a $320m credit line and is in the process of choosing banks to lead the deal.
