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GC Asia
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Investor relief as Zambia makes progress with IMF
The IMF and Zambia have reached a "broad agreement" on a reform agenda for Africa’s first sovereign defaulter of the pandemic era. That will serve as a prelude to securing a new credit facility from the Fund and pleased investors, who noted that Zambia's bonds have made gains in recent weeks.
11 May 2021 -
EM loan bankers ‘not very confident’ of deal boost
The number of emerging market syndicated loans is in decline for the fourth year in a row, according to Dealogic data. Bankers' outlooks for the rest of the year err on the pessimistic side, with the fallout from the pandemic being the main concern.
10 May 2021 -
Afreximbank launches dual trancher as FIG issuers dominate deal flow
African Export-Import Bank launched a dual tranche dollar bond on Monday morning, with orders exceeding $3bn by midday. Emerging market bank issuers have been especially active in recent month thanks to attractive credit conditions.
10 May 2021 -
FirstRand, Comet sales bookend vibrant week of blocks
South African investment company Remgro has reduced its stake in FirstRand, one of the country’s largest financial services groups, via an accelerated bookbuild.
30 Apr 2021 -
Puma Energy secures loan months after failed bond
The Singapore-incorporated global energy company Puma Energy has bounced back after a planned bond issuance last year failed to materialise, raising $590m in the loan market. Sources say the company’s change of management and reorganisation brought a “sense of relief”.
29 Apr 2021 -
Tunisia CB chief: IMF first, capital markets later
As its debt-to-GDP ratio inflates and its public finances come under pressure, some have wondered if Tunisia will succumb to a debt restructuring process. But the governor of the Central Bank of Tunisia, Marouane El Abassi, told GlobalCapital that the country is intent on securing new IMF funding as a prerequisite to entering capital markets.
27 Apr 2021 -
MDBs group together to fund Egypt solar plant
A consortium of international lenders is funding the development of Egypt’s largest solar plant.
23 Apr 2021 -
Airtel Africa calls on international lenders for cash
Airtel Africa, the UK telecommunication company providing services across Africa, has raised $500m from a range of international lenders. It becomes one of the latest Africa-based issuers to inject activity into the syndicated loan market.
22 Apr 2021 -
African borrowers trickle into syndicated loan market
Amid a broader downturn in emerging market syndicated loans, several African issuers — including sovereigns — are seeking debt facilities from international lenders.
15 Apr 2021 -
EM set for uneven recovery, says IMF, though SDR boost on horizon
An uneven economic recovery is expected across emerging and developed markets over the next year, the IMF said this week during its spring meetings. Meanwhile, a proposed boost to special drawing rights has split market opinion.
08 Apr 2021
