Africa Loans
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PTA Bank, the African development finance institution, has signed a $340m three year loan largely from Chinese lenders.
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South African investment firm Brait has signed new four year debt facilities as it seeks further potential acquisitions.
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Ghana Cocoa Board (Cocobod) has completed senior syndication of its $1.8bn trade finance loan and will pay a few basis points more than last year’s deal to reflect harsher market conditions.
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Johannesburg-listed drug manufacturer Aspen Pharmacare completed arranging €3bn-equivalent of loans on Wednesday. The multicurrency deal was more than twice oversubscribed in the euro tranche.
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Eskom, the South African state-owned electricity firm, is arranging a syndicated loan with a guarantee from African Development Bank (AfDB), and the deal could be as large as $1bn, said one banker this week.
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Aspen Pharmacare Holdings, the largest drug manufacturer in South Africa, has nearly completed syndication of a large dollar loan, according to bankers.
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Ghana Cocoa Board (Cocobod) will complete senior syndication of its $1.8bn annual loan and launch the general phase next week, according to a lead banker.
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Local lenders flooded into mobile telecommunications firm MTN Côte d’Ivoire’s $225m-equivalent loan in West African francs, leaving it almost twice subscribed.
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Kenya Power and Lighting Company (KPLC) has completed refinancing on $500m of loans, reducing its costs with the help of a World Bank guarantee.
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Oil products storage and distribution firm Puma Energy has increased the size of its latest revolver to $800m from $500m, with 35 lenders making commitments. The company has also managed to extend the maturity on part of a three year facility raised last year.
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French firm Fnac will imminently launch syndication of its loan to buy retailer Darty, after winning a bidding war with South Africa's Steinhoff. Meanwhile, banks supplying a £920m loan for the thwarted rival await instructions.
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The £920m loan for Steinhoff’s bid for Darty remains in place, although the South African firm has been outbid by French retailer Fnac.