Africa Loans

Eastern Sugar Co (Nuran Sugar) has signed its long awaited Shariah-compliant financing worth E£1.5bn ($217m) with 13 banks in total according to a senior banker on the deal.

Tunisia’s Banque Zitouna has teamed up with the Islamic Development Bank (IsDB) to establish a specialised institute for microfinance.

Ethiopia — Tanzania — Agrokor — Polsat — International Bank of Azerbaijan

The Ethiopian government is due to sign a $900m loan by mid-May to fund a railway line from Awash to Weldia in the north of the country.

The government of Tanzania has signed a loan totalling just under $200m that will be used for specific projects.

Two London-listed and Africa-focused oil firms signed loans this week, as lenders said that they are increasingly looking to regions away from sanction-hit Russia for deals.

Zambia's warm welcome from the bond market this week means that the sovereign's mooted $600m loan has been cancelled.

Tullow Oil, the London-listed but Africa-focused oil exploration and production company, has followed up last week's successful bond issue with a $750m refinancing loan.

Caracal Energy, a London-listed oil and gas company, has signed a debut $140m reserve-based senior secured facility to develop its assets in Chad.

African commodity borrowers could unexpectedly benefit from the Russia-Ukraine crisis as emerging market lenders are considering looking away from eastern Europe to hit their lending targets for the year.

Puma Energy, the emerging markets-focused oil products firm, held a well attended bank meeting for its new refinancing loan facility on Wednesday.

African commodity borrowers could unexpectedly benefit from the Russia-Ukraine crisis as emerging market lenders are considering looking away from eastern Europe to hit their lending targets for the year.