Africa
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Other African sovereigns will be encouraged by the return of fresh issuance but many have no pressing need to print -
African sovereign’s deal did not pay any NIP, but investors still get value
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African sovereign tightened to close to where observers put fair value
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Steady fundamentals and technical support means there will be demand, said investors
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The development bank's high ratings will not preclude emerging market investors from buying
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FAB and Saudi Arabia are likely comparables to the social bond
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Issuing a bond in 2024 will look very different from when many sovereigns last came to the market
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Sovereigns have managed to source other financing while bond markets have closed to them
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Sovereign’s debt has traded at distressed levels this year but bonds have rallied
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New bond volumes surged from 2022, but are still far lower than in previous years
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Many of the region’s states that have market access feel little need to issue new bonds
