North Africa
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In this round-up: RMB indices record a stabilisation of the currency against the trade-weighted baskets, Hong Kong RMB deposits increase nearly 2% in September, and the China cross-border interbank payment system (CIPS) expands to 400 indirect participants. Plus, a recap of our top stories this week. -
Fitch has removed Afreximbank from rating watch negative, partly because of its “excellent” risk mitigants, as the development bank continues to arrange a loan of at least $750m.
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Bank ABC and Credit Suisse are leading the syndication of a €195.5m loan for Tunisie Telecom's acquisition of a majority holding in Maltese telecoms firm GO, according to a banker close to the deal.
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Domestic opposition could derail Egypt’s IMF deal and threaten plans for a dollar market return, analysts have warned.
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Egypt has picked four international banks to manage its upcoming bond sale as it awaits approval on a $12bn extended fund facility (EFF) from the IMF’s executive board.
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Egypt has picked four international banks to manage its upcoming bond sale as it awaits approval on a $12bn extended fund facility (EFF) from the IMF’s executive board.
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Sovereign mandates are starting to trickle through in CEEMEA as borrowers ready themselves for September. Bahrain has picked five banks to manage a dollar transaction and the market is waiting for updates from Egypt and Nigeria.
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The deadline for responses to Egypt’s RFP passed at noon in Cairo on Thursday with a decision on the mandate expected as soon as early next week, said one DCM banker.
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African Export-Import Bank has appointed a new director for syndications, after hiring another senior loan syndication banker earlier this summer.
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Public sector dollar flow picked up on Wednesday after a quiet start to the week, as World Bank brought a four year benchmark and Tunisia sold a bond backed by the US government.
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Egypt published a request for proposals for a new dollar bond on Wednesday as it works towards an agreement with the International Monetary Fund.
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The International Monetary Fund approved on Friday a two-year precautionary liquidity line (PLL) to Morocco to support the country as it pursues a reform agenda.
