Row rect Shape Decorative svg added to bottom 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 Capital that builds confidence in South Africa’s tomorrow Absa Corporate and Investment Banking (CIB) is proud to partner with the South African National Treasury as the sole lead arranger and infrastructure finance structuring agent of a R11.8 billion Infrastructure and Development Finance Bond. This purpose-driven instrument is designed to finance or refinance priority infrastructure under the Government’s Budget Facility for Infrastructure (BFI) programme. Read more DEALS Building Namibia’s fiscal strength through purpose-led partnership Supporting the Government of the Republic of Namibia with a ZAR 1.5 billion facility that enables Eurobond repayment obligations and strengthens domestic fiscal resilience. Read more DEALS Distributed Energy. Powering Africa’s low-carbon leap Absa supports CrossBoundary Energy’s $225 million capital raise, contributing up to $100 million to expand renewable infrastructure, enable the mining of critical transition metals such as copper, and extend energy access across underserved African markets. Read more
