Africa Loans

The Islamic Development Bank has approved $515.6m of financing in support of socio-economic development projects in member countries, as well as Muslim communities in non-member countries.

Tanzania’s Uranium Resources, the Aim-listed uranium exploration and development firm, has obtained a $300m loan from its major shareholder Estes.

Eastern Sugar Company (Nuran Sugar) is set to sign a loan worth E£1.5bn ($217m) with 10 banks. The deal is expected to close in mid-April, according to Walid Hassouna deputy general manager and head of Islamic banking at Bank Audi

First Quantum - Rusal - IBA - Ardshininvestbank - Cocobod - Kenya Pipeline Co - Callcredit

Puma Energy, the emerging markets-focused oil products company, has approached banks for a new loan that it hopes to raise in April and May.

Puma Energy, the emerging markets-focused oil products company, has approached banks for a new loan that it hopes to raise in April and May.

There was standing room only at the bank meeting for mining firm First Quantum’s $2.5bn loan, prompting some bankers to hope that the deal will not need to be launched into general syndication.

Banks have begun to form groups to pitch for the annual pre-export finance facility for Ghana National Cocoa Board, known as Cocobod.

State-owned Kenya Pipeline Co has requested proposals for a $500m 10 year loan, as it seeks to build a replacement oil pipeline between Mombasa and Nairobi.

Zesco, the Zambian government-owned power firm, has signed a $163m loan as it strives to connect swathes of the country to the national electricity grid.

Nigerian-focused oil and gas exploration firm Mart Resources has increased an existing loan from $100m to $175m.

Emerging markets-focused miner First Quantum has launched a $2.5bn syndicated loan into the market, and is already attracting lenders new to the name.