DEALS Expanding Africa’s Capital Markets Absa | Corporate and Investment Banking > Insights and Events > Expanding Africa’s Capital Markets SHARE We are pleased to have partnered with the International Finance Corporation in again successfully accessing the local currency bond market as Lead Arranger, this time in Zambia. We are pleased to have partnered with the International Finance Corporation in again successfully accessing the local currency bond market as Lead Arranger, this time in Zambia. The five-year, amortizing “Zambezi” bond—which was oversubscribed—was issued as a floating rate note, paying a coupon based on the 182-day Zambian Treasury bill yield minus 50 basis points. Proceeds will support IFC’s local currency investment program in Zambia. This is IFC’s second kwacha-denominated bond. The Zambian non-Government bond market has been dormant for nearly 5 years until very recently, which meant ensuring a successful transaction for the IFC was key in building confidence for other potential issuers and investors alike going forward. Absa was appointed as lead arranger after a stringent RFP selection process, based on our market leading presence. Issuance of this bond is meant to support and encourage the development of domestic capital markets and foster economic growth and Absa’s participation is aligned with our aspirations of making a proud and positive contribution in the markets in which we operate. Contact us https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering a sustainable future with Ferroglobe At Absa CIB, we believe that financing critical mineral supply is essential for advancing the Just Energy Transition. Our partnership with Ferroglobe supports the expansion of silicon metal production, which is key to semiconductor chips and solar panels, driving economic growth, job creation and Africa’s role in the renewable energy value chain. Read more DEALS Propelling South Africa’s Just Energy Transition Our landmark project financing contribution towards an R8.8 billion transaction with Red Rocket South Africa (Pty) Ltd reinforces our position as a market leader in renewable energy financing. Read more DEALS Building a more robust green energy landscape South Africa’s green energy sector is poised for significant transformation, with vast untapped investment potential. Our R1.45 billion deal with G7 Renewable Energies and Cennergi Holdings marks a monumental sustainability partnership, highlighting the critical role of finance as a catalyst for advancing renewable energy projects. Read more
