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 Reviving Africa’s Trade Finance, Demands Bold DFI-Bank Partnerships A Nigerian manufacturer, eager to tap into new markets across West Africa, secures buyers in Côte d'Ivoire and Ghana. Yet, despite the strength of these opportunities, the company encounters a formidable roadblock: the inability to access the requisite trade finance to execute its cross-border deals. Read more DEALS We are pleased to have overseen the USD 50m Structured Finance Deal to boost Africa’s agricultural trade We are pleased to announce our role as the lead bank in a USD 50 million Structured Inventory Finance Facility for Valency International DMCC. This facility, secured in partnership with International Finance Corporation (IFC), positions Valency at the centre of sourcing, processing and exporting agricultural goods from East and West Africa to international markets. Read more DEALS Breaking new ground for meaningful impact through mining Absa’s balance sheet commitment will ensure Gamsberg Mine is ranked among the top five zinc-producing mines globally and will help BMM create jobs and improve economic activity in the region. We are invested in your story and invite you to write it with us. Read more
