Senegal’s $500m Eurobond offers good yield

Senegal has successfully re-priced its yield curve by issuing a more liquid 10-year $500 million Eurobond carrying a coupon of 8.75%. The bond was priced at 97.57 when it was bid on 6 May, the equivalent of a yield of 9.125%.

Sub-Sahara investment banking fees $157 mn for 3 months

Fee income from investment banking in sub-Saharan Africa more than doubled to US$157 million during Q1 of 2011, compared to same period in 2010. Of this $80 mn (51%) was earned on merger and acquisition (M&A) activity, according to a leaflet and press release from Reuters Deals Intelligence.

Top investment conference this week in London

Leading investors and institutions are to discuss transactions and trends in Africa’s capital markets during the Africa investor 2011 Analysts’ and Fund Managers’ Forum to be held in London. The one-day meeting will be held in association with Thomson Reuters, at their headquarters in London on 24 March.

Nigerian Stock Exchange Annual Review 2010

The Nigerian Stock Exchange reported on 19 January that a total volume of 93.3 billion shares valued at N797.6 billion (3.2% of gross domestic product) were traded in 2010, with volume down 9% and value up 16% compared to 2009 when 102.8 billion shares were traded, valued at N685.72 billion (2.9% of GDP).

Institutions react to Cote d’Ivoire crisis

Markets are reacting quickly to the news that Laurent Gbagbo was sworn in as president of Cote d’Ivoire on Saturday (4 Dec). The World Bank and African Development Bank on Sunday said in a joint statement: “The African Development Bank and the World Bank, longstanding multilateral development partners of Côte d’Ivoire, view with great concern and frustration the events unfolding in Côte d’Ivoire.”