Africa Loans

Kenya Power and Lighting Company (KPLC) launched its $500m loan refinancing on Wednesday after over a year in the making.

Egypt’s Banque Misr is finalising its second syndicated loan in over a decade, a murabaha deal for $200m.

Banks must make their commitments for Standard Bank Kenya’s (Stanbic CfC) $100m loan within a week, according to a lead banker.

The $150m loan for Africa Finance Corporation is still in the market, although commitments for the loan were due weeks ago.

The $400m loan for South Africa's Investec Bank will be oversubscribed, despite the bank being put on review for a downgrade, according to a banker on the deal.

Standard Bank of South Africa launched syndication for its loan with a whopping eight banks leading the deal, including four Chinese firms and HSBC.

Barclays’ plan to cut its exposure to African operations has left emerging market bond and loan bankers puzzling what future the firm has in the region — historically one of its areas of strength within CEEMEA — but it will leave the UK firm better capitalised.

Standard Bank Kenya (Stanbic CfC) is paying around 45bp more for its latest loan than when it last issued, less than a year ago.

Reports that Barclays will exit its African operations, known locally as Absa, have left emerging market bond and loan bankers puzzling what future the firm has in the region — historically one of its strengths within CEEMEA — but it is thought it will leave the UK firm better capitalised.

Bankers are in discussions with a Nigerian corporate for an acquisition loan, representing welcome fodder for a depleted market, although the deal may not make it over the line, according to sources.

In an otherwise subdued African loan market, commitments for a $150m deal for Africa Finance Corporation were due on Thursday, according to a banker on the deal.

After a rough ride for Zambian loans and bonds in recent months, state-owned power firm Zesco will finally sign its delayed seven year loan this week.