Eurobond | - Part 4

Tanzania aims for debut Eurobond in 2017/18 – ministry

DAR ES SALAAM (Capital Markets in Africa) – Tanzania aims to issue its first Eurobond in fiscal 2017/18 to fund new infrastructure, the Finance and Planning Ministry said on Thursday, after repeated delays in the launch as it sought a credit rating. It did not say how much the bond would be worth, but said the government wanted to raise $900 million in the financial year starting July 1 to fund infrastructure projects. President John…

Zambia to re-finance $2.8 billion Eurobonds in 2017, Nigeria targets 2.1 mln b/d in January

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Zambia plans to refinance Eurobonds totalling around $2.8 billion that it issued between 2012 and 2015, Finance Minister Felix Mutati said on Wednesday. “The strategy for the Eurobonds next year is refinancing. We want to refinance the Eurobonds and get longer dated bonds at a bit of lower cost so that we minimise our debt,” Mutati told reporters. Mutati said the equivalent of 19 percent of Zambia’s gross domestic…

Nigeria has commitments for $500 mln of its planned Eurobond

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LAGOS (Capital Markets in Africa) – Nigeria has $500 million of commitments for the planned $1 billion Eurobond it intends to issue before the end of the year and any decision to increase the size of the offer will depend on pricing, Finance Minister Kemi Adeosun said on Thursday. Nigeria wants to sell a $1 billion in Eurobonds by the end of the year although, as of Thursday, no bank had been appointed to arrange…

Egypt to issue $2 bln in international bonds, roadshow in Nov

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CAIRO (Capital Markets in Africa) – Egypt will issue roughly $2 billion in international bonds, less than previously announced, and will begin a roadshow for the planned offering in the second or third week of November, Finance Minister Amr El Garhy said on Monday. Egypt has been negotiating billions of dollars in aid from various lenders to help revive an economy battered by political upheaval since the 2011 revolt and ease a dollar shortage that…

MTN Said to Seek More Than $1 Billion From Dollar Bond Sale

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JOHANNESBURG (Capital Markets in Africa) – MTN Group Ltd. is seeking more than $1 billion from the sale of two dollar bonds as Africa’s biggest wireless carrier by sales returns to the Eurobond market for the first time since 2014, according to a person familiar with the situation. The Johannesburg-based company is seeking to raise at least $500 million apiece from five- and 10-year bonds, said the person, who asked not to be identified as details…

South Africa Seals Lowest Dollar-Borrowing Costs Yet in Sale

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JOHANNESBURG (Capital Markets in Africa) – South Africa achieved its lowest borrowing costs yet for dollar-denominated debt, taking advantage of demand for emerging-market debt to raise $3 billion as rating companies prepare to review the country’s creditworthiness. In its second foray into international debt markets this year, the country sold $2 billion of 12-year notes and $1 billion of 30-year securities with investors in Asia, Europe and the U.S. who placed orders for 2.5 times the amount,…

Eurobond Investors Warm to Nigeria as OPEC Deal Aids Rally

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LAGOS (Capital Markets in Africa) – Nigeria, heading for its first full-year contraction in 25 years and in need of funding to cover a record budget deficit, may take heart from the performance of its dollar debt and OPEC’s agreement to cut oil production as the West African country prepares to tap the Eurobond market for the first time since 2013. Demand for the nation’s U.S. currency-denominated securities drove yields to the lowest in 15 months, handing…

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