Africa
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Both are high quality companies in difficult operating environments -
The trade will be the country’s second in dollars in the past year
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Hybrid bonds are rare in the Gulf and even harder to find in Africa
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New faces will join those that need to refinance existing bonds
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Variation over fair value calculations but deal still performs
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The well-flagged deal will 'fly', said one observer
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Company said the deal helps reduce overall financing costs
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Emphatic demand allows pricing at top of range
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There was no clear reason why local banks were not picked, sources said, for first time in 17 years
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Local banks play a vital role for the country in both domestic and international capital markets
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Second African telecom tower owner to issue bond this year
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New issue premium estimates ranged from 'minimal' to 35bp
