Africa Loans

Steinhoff has agreed a loan with one new lender and bumped up its bridge facility with Crédit Agricole and UniCredit. The steps were taken to support the retailer’s increased offer for the UK’s discount retailer Poundland.

South Africa's Steinhoff is lining up $3.8bn in loans to buy bedding retailer Mattress Firm. The acquisition will give the retailer a foothold in the US consumer market.

African Export-Import Bank has appointed a new director for syndications, after hiring another senior loan syndication banker earlier this summer.

A group of international banks are understood be close to signing a $1.4bn project finance loan for a major oil and gas field development, expected to transform Ghana's domestic energy distribution.

MTN, the South African telecoms group, is syndicating a $1bn new money loan that could involve non-relationship lenders.

African Export-Import Bank is near completion of a $300m loan aimed at Chinese lenders, and most of the deal is guaranteed by China Eximbank.

Lenders are still keen to underwrite sterling loans after the UK’s Brexit vote — as shown in Steinhoff’s £452m deal — said one head of Emea loan syndicate.

South Africa's Steinhoff has agreed to buy UK discount retailer Poundland in a £597m deal, with Crédit Agricole one of two banks underwriting the loan financing. The French bank also benefited from Steinhoff’s thwarted bid for Darty earlier this year, when it co-underwrote a facility for rival bidder Fnac.

Democratic Republic of Congo firm, Helios Towers DRC, has received a $105m loan to buy 950 telecommunications towers and for capex needs.

South African state-owned electricity firm Eskom has signed $1.34bn of loans, arranged by African Development Bank. The financing includes what four bankers said was the largest ever ‘B’ loan tranche.

The former head of loan syndication at African Development Bank has left for a role at a developmental financial institution in Cairo.

Kenya Power and Lighting Company signed its $500m loan refinancing last week after extending the deal time to bring in more lenders.