South Africa
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FirstRand Bank has launched its second syndicated loan of the year, two weeks after signing a $540m loan with Asian banks. The new $500m loan is aimed at international banks, and is priced more tightly than other loans for South African banks this year. -
The book for Liquid Telecom's $180m tap of its $550m 8.5% July 2022s has reached $400m.
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South Africa’s FirstRand Bank has successfully completed its Asian-bank focused syndication for $540m, an increase from its launch amount of $250m.
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South Africa’s dollar bonds have managed to scrape through the rout on some of the country’s risk assets, after local media said the deputy president could be removed from his position and tried for treason.
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Anil Agarwal, founder of mining group Vedanta Resources, has managed to surprise the stockmarket with the same trick twice. But as Jon Hay and Aidan Gregory write, his intentions in buying another £1.5bn of shares in Anglo American are anything but clear, and he is paying a high price for influence.
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Shares in Steinhoff Africa Retail, the African retail assets of Steinhoff International, rose 5% above their IPO price on Wednesday after the company made its debut on the Johannesburg Stock Exchange.
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South Africa has printed a $2.5bn dual tranche bond that analysts said was attractive despite the country’s recent economic and political woes.
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Sibanye Gold, the South African gold miner, took the final step towards refinancing its acquisition of US platinum miner Stillwater on Tuesday, when it issued a $450m convertible bond.
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The IPO of Steinhoff Africa Retail, known as Star, the African discount store assets of Steinhoff International, has been priced at R20.50 a share, the midpoint of the initial R18 to R23 range.
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FirstRand Bank has begun syndication of a $250m loan, aimed at Asian lenders.
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South African bank Investec signed a $600m syndicated loan on Wednesday, double the initial launch amount, making it the second successful bank financing to come out of the country this month after Standard Bank’s $1bn loan.
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After the US public holiday on Monday restricted trading, the equity block trades market in EMEA reopened spectacularly this week, with a rush of large deals from across the region.
