Author: The Editorial Team

TUNIS (Capital Markets in Africa) – Tunisia is tapping the euro-debt market for the second time in nine months, tempting investors with 2019’s highest yield for a sovereign bond in the single currency. The north African nation is offering a benchmark-sized seven-year note at about 6.875% following investor meetings in Europe and the U.S., according to a person familiar with the matter, who isn’t authorized to speak publicly and asked not to be identified. It raised 500…

LONDON (Capital Markets in Africa) – The pound slumped to a two-year low as signs of economic downturn mounted in a market increasingly betting that policy makers will have to cut borrowing costs. The currency reached its weakest level since April 2017 as disappointing retail sales and suggestions that the U.K. economy could be set for its worst quarter since 2012 sapped sentiment. The bleak economic outlook is adding to risk factors for sterling, with money markets pricing in…

MAPUTO (Capital Markets in Africa) – Mozambique has put on hold plans to raise funds for its portion of Anadarko Petroleum Corp.’s $20 billion gas project, as the government tries to limit its debt sales following a default about three years ago. Empresa Nacional de Hidrocarbonetos EP, the national oil company, will revive efforts to raise $2.3 billion for the liquefied natural gas project probably later in the year, after Anadarko starts implementing it, said ENH Chief…