AFMI Weekly Insight April 27th 2018

27 April 2018


Headlines

  • Angola is readying a new dollar transaction to take advantage of higher oil prices and a new program with the International Monetary Fund.The country plans to issue at least $2 billion of debt in international markets next month. Deutsche Bank AG, Goldman Sachs Group Inc. and Industrial & Commercial Bank of China Ltd. are managing the meetings and a possible sale of 10-year notes.
    Source: Bloomberg
  • Mauritius sold 460 million rupees ($ 14 million) of bills due April 26, 2019. Investors offered to buy 2.5 times the amount of securities sold. The bills were sold at a price of 96.441, have a yield of 3.7 percent and settled April 27.
    Source: Bloomberg
  • Zimbabwe may start a sovereign wealth fund or issue an export-related bond after elections. Post-election, the country should be able to put in place a sovereign wealth fund or an export-related bond and should be able to raise between $2.5 billion and $3.5 billion anchored on trade receivables. The bonds would be repaid in annual instalments of $140 million to$150 million
    Source: Bloomberg
  • In Nigeria the Debt Management Office (DMO) listed the N100 billion sovereign Sukuk, simultaneously on the Nigerian Stock Exchange, NSE and the FMDQ Securities Exchange Plc. The bond, offered for subscription to the public last year, the first of such to be issued in Nigeria, has a tenor of seven years and is priced at 16.4 percent.
    Source: allafrica.com

Currencies

Source: Bloomberg®

AfDB/AFMI℠ Bloomberg® African Bond Index (ABABI) 25% Capped

The ABABI 25% Capped is a rule - based weighted composite index of local Sovereign Indices (South Africa, Egypt, Nigeria, Kenya, Namibia, Botswana, Ghana, and Zambia).

County percentage composition to the index is capped at 25%.

To be included in the index, a security must have at least 1 year remaining to maturity. Source: Bloomberg®

Bloomberg Commodity Index

Source:  Bloomberg®