Africa

The World Bank is hoping to step up its activity as an intermediary in commodity hedging transactions, providing credit enhancements for its clients in their arrangements with insurers to protect them from external shocks

Mann+Hummel struggles in Schuldschein market amid splurge in auto trades — Bureau Veritas returns to USPP market — Seplat turns to loans for Eland buy — Endava swaps to syndicated sterling borrowing — Bravida refis revolver, eyes more buys

Heavy debt burdens are forcing African countries to either renegotiate loan terms with China, or ask for debt forgiveness, with some blaming China’s lack of attention to debt sustainability.

Banque Ouest Africaine de Développement (BOAD) was able to tighten pricing beyond guidance on a 12 year bond, one of its longest dated issues, this week.

The African Export Bank (Afreximbank) has confirmed its intention to float on the London Stock Exchange, paving the way for a $250m IPO.

Shares in Helios Towers, the African telecommunications infrastructure company backed by George Soros and Madeleine Albright, rose as much as 4.3% following their debut on the London Stock Exchange on Tuesday morning, despite a jittery market that has seen numerous IPOs pulled or trading below their offer prices.

Standard Bank is expected to raise $1bn in the loan market, up from an initial target of $500m, and slash the pricing of a three year loan by roughly 30bp.

Banque Ouest Africaine de Développement (BOAD) is set to return to the capital markets for the first time in over two years, sounding out investors for a long end dollar benchmark. The trade will follow a euro dual trancher from the Ivory Coast sovereign.

The African Export Bank (Afexrimbank) has filed initial paperwork before a potential float on the London Stock Exchange.

Ivory Coast has bolstered loans bankers' expectations that African sovereigns will become a rare source for growth in the market, closing a €300m seven year loan.

Less than a decade ago Egypt was deemed a no-go zone by many private sector investors, but now it’s an investment hotspot. We asked Sahar Nasr, Egypt’s Minister of Investment and International Co-operation, to explain what’s behind the turnaround

Egypt’s banking system has undergone a transformation. Supported by strong economic growth and a root-and-branch reform programme put in place over the last two decades, the country’s financial institutions are now pulling their weight, providing a vital lubricant for Egypt’s economic success