Africa Loans

The dual currency $303m-equivalent loan, which marks Africa Export-Import Bank's (Afreximbank) second entry into the market, is the largest ever Samurai loan raised by an African issuer.

Australian potash company Danakali will raise a $200m credit facility from lenders in Africa. The syndicated facility will go towards funding the planned Colluli potash project in Eritrea.

BNP Paribas hires UK advisory head — Créd Ag’s credit unit chief moves to markets role — AIIB hires ICBC loan syndicator.

Sibanthracite to switch loan from dollars to euros — IGT cuts size, stretches tenor of bank debt — Keywords hits power up on revolver — Resolute turns to lenders to refi M&A debt — Future taps revolver for Smartbrief buy — Fraport enters the Schuldschein market for more

Fitch downgraded its credit outlook of deeply-troubled South Africa on Friday, but loan bankers, both in and outside the country, are confident that a lack of primary EM supply and an established banking sector will keep margins tight and lenders attracted. At least for now.

Harmony Gold, a South African gold mining company, is in the market to raise $400m to refinance existing debt. The deal is being led by domestic lenders Absa Bank and Nedbank, according to bankers.

Ghana Cocoa Board, known as Cocobod, is likely to close its annual loan refinancing in September, and bankers expect it to have tight margins.

Egyptian General Petroleum Corporation (EGPC), a frequent borrower in the loan market, launched syndication for a $400m five year term loan on Tuesday. The loan, which will have a government guarantee, is expected to attract healthy demand.

GlobalCapital has launched its poll to determine the 2019 winners of its Sustainable and Responsible Capital Markets Awards. Market participants are invited to participate.

The loan, which marks Absa's return to the syndicated loans market after a decade, demonstrates healthy demand for the South African bank, despite the question marks surrounding credit risk in the country.

South Africa’s Absa Bank is expected to close its loan syndication by the end of this week, as an abundance of liquidity in the loan market, as well as healthy investor appetite for bank debt, causes pricing compression.

Ghana Cocoa Board, the central organisation for Ghana's cocoa industry, is in the process of raising $1.3bn to refinance existing debt.