Africa Loans
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Stanbic Zambia signed its debut syndicated loan on Friday and increased the deal to $75m, after oversubscription from lenders. -
Africa Loans — Bulgarian Energy Holding — OSN — Conviviality
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Ghana’s Cocobod, Stanbic Kenya and Stanbic Zambia will all sign syndicated loans next week, according to bankers on the deals.
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Stanbic Kenya launched a $100m loan on Monday and Stanbic Zambia is marketing a $50m deal, according to bankers.
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Kenya Pipeline Co (KPC) has signed its $350m 10 year loan with three new banks joining the syndicate in secondary enquiries.
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The Abraaj Group has raised $375m for its second fund dedicated to North Africa, as the private equity firm continues to pursue investment opportunities on the continent.
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With oil less than half the price it was last year, African borrowers are being driven into the loan market for funding. Angolan oil company Sonangol is the prime example, according to one of the firm’s relationship banks, and more are close behind. Elly Whittaker reports.
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Sonangol is already in the market for its second international loan of the year and the oil firm will come back for a third syndicated deal before year end, according to a banker at one of Sonangol’s relationship banks.
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Ghana National Cocoa Board’s (Cocobod) annual loan syndication has closed oversubscribed and with a margin of around 60bp, the same as the deal it signed in 2014.
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Nigeria’s Skye Bank is looking for a one year loan led by Dubai's Mashreqbank, according to a loan banker.
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Angolan state oil company Sonangol is back in the market for a syndicated loan, led by Standard Chartered.
