Africa

Stanbic Bank Kenya has signed a $100m dual tranche loan as lenders prepare for more deals from sub-Saharan Africa’s financial institutions.

The Republic of Ghana is heading off on a roadshow for 10 and 30 year bonds, with a tender offer for its existing 2022s and 2023s attached to the transaction.

Bankers do not expect Moody’s downgrade of Angola last week will have any bearing on the price of the new issue, which is expected on Wednesday.

Nigerian banks have found their loan market verve this year with one syndicated transaction near close and another due to launch soon, as pent up demand tempts borrowers back into the market.

By attracting private investors to provide risk capital to microfinance firms in the developing world, Global Parametrics is hoping to bolster insurance provision against natural disasters to families and businesses in poor countries.

The London and Johannesburg listing of Vivo was covered today, two days after launch, good news for African equities after South African bottle producer Consol had to pull its IPO.

Higher oil prices, a new governing regime and an agreement with the International Monetary Fund are all expected to fire up demand for the Republic of Angola’s first Eurobond since 2015, though there is a question mark over how receptive the market will be for long dated debt.

The IPO of Consol, the South African glass bottle maker, has been pulled on the last day of bookbuild. The seller blamed difficult markets and said it had not been able to achieve its “valuation objectives”.

South Africa’s largest real estate investment trust (Reit) Growthpoint raised $425m on Tuesday.

Anglo American Platinum, the biggest producer of platinum in the world, has sold a a 6.5% stake in Royal Bafokeng Platinum to finance its commitment to a joint mining venture in South Africa.

Leads set price ranges in two African IPOs this week, which are coming to market against a backdrop of rising investor interest in Africa.

Higher oil prices, a new governing regime and an agreement with the International Monetary Fund are all expected to boost demand for the Republic of Angola’s first Eurobond since 2015, though there is a question mark over how receptive the market will be for long dated debt.