South Africa
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Helios Towers Africa (HTA) saw its debut dollar bond more than three times oversubscribed on Wednesday as investors jumped at the chance to take in paper yielding more than 9%. -
Nomura has appointed two to its emerging markets sales team as it attempts to grow its business.
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The speed and success of Sibanye Gold in closing a loan to back its acquisition of US palladium miner Stillwater, has put South Africa in focus for bankers amid talk that two other acquisition deals out of the country could follow soon.
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Investec Australia Property Fund, the Johannesburg-listed real estate investment trust focused on commercial property in Australia and New Zealand, set terms for its partially underwritten R1.5bn ($111m) rights issue on Tuesday. Investors marked the shares up 2.3% on the day.
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Sibanye Gold, the South African gold producer, confirmed a surfeit of lending demand at bank meetings on Thursday as it wrapped up final commitments for loans backing its acquisition of US palladium miner Stillwater.
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Shares in Life Healthcare Group Holdings, one of South Africa’s largest private hospital operators, closed 2.5% higher on Monday after it said late on Friday that its rights issue would be R1.7bn ($130m) smaller than planned.
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The African loan market has hit 2017 on the front foot, with bankers heralding the support shown for Kenya and Sibanye deals as testament to gathering confidence in the region — but only for the right credits.
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Sibanye Gold, the South African gold producer, has set a date for bank commitments as it targets a quick turnaround on a loan backing its acquisition of US palladium miner Stillwater.
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Syndication of the acquisition financing loans for Lonza and Sibanye Gold is expected to begin soon, as loans bankers begin 2017 in an optimistic mood.
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Shares in Life Healthcare, one of South Africa’s leading private hospital operators, rose 1.5% on Tuesday after it said it would raise R10.7bn ($756m) in a rights issue to reduce its leverage after buying Alliance Medical Group, the UK provider of diagnostic imaging services.
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Emerging markets bonds sold off after the US Federal Reserve indicated a more hawkish tone on Wednesday — but much like what happened after the Brexit result, spreads came off their wides quite quickly.
