Africa
-
The petrochemicals company’s shares fell after it announced it will sell a $750m convertible -
Meanwhile, Egypt is nearing its own IMF deal but should not need to restructure its debts
-
Powerful transaction provides long term cover for big portfolio
-
State-owned borrower signs loan after Ghana begins talks with IMF
-
Banks were keen on the borrower despite Ghana’s financial woes
-
First restructuring under common framework could set an important precedent
-
Support from Chinese creditors was a big step forward in a process which has been conducted at a glacial pace
-
Investors saw William Ruto as the more market-friendly of Kenya’s potential presidents
-
The telecoms firm has cut international debt to 35% of total
-
UK bank sells remaining 7.4% stake in overnight block
-
Borrowers are reluctant to make deals more complicated when securing any loan is tough
-
Kenya has breathing room with no redemptions due until the summer of 2024
