02082016Mon
Last update: Mon, 08 Feb 2016 01pm

Middle East & Africa

Markets - Fixed Income - Middle East & Africa

Bahrain working with banks to tap existing $1.5bn bond DUBAI:Bahrain is working with banks about a potential re-tap of a dollar-denominated two-part bond issued late last year, sources with knowledge of the deal told Reuters on Wednesday.The finances of the small energy exporter, with less generous oil and financial reserves than its neighbours, have been hard hit by the drop in oil prices, which touched a 12-year low earlier this month.The kingdom is working with the same five banks which arranged its $1.5 billion bond in November, which was split between five- and 10-year portions paying 5.875 percent and 7.0 percent respectively, according to three sources with knowledge of the matter.Any potential re-tap could happen within the next two to three months, one of the sources added.Bahrain's central bank, which organises the kingdom's borrowing, didn't respond to a request for comment. The sources spoke on condition of anonymity as the information is private.Under a tap transaction, a 'new' deal ...

Markets - Fixed Income - Middle East & Africa

Nigeria to sell 80 billion naira of bonds on Jan 20 LAGOS: Nigeria said on Monday it will sell 80 billion naira ($402.92 million) worth of bonds denominated in the local currency at an auction on Jan. 20, its first debt auction of the year, the Debt Management Office (DMO) said. The debt office said it will issue 40 billion naira each of bonds maturing in 2020 and 2026, using the Dutch auction system.The 2020 debt is a reopening of a previously issued bond. The 2026 ...

Markets - Fixed Income - Middle East & Africa

Kenya 91-day Treasury bill yield jumps to 11.398pc in auction NAIROBI: The weighted average yield on Kenya's 91-day Treasury bill rose to 11.398 percent at auction on Thursday, the central bank said. The bank accepted bids worth 2.78 billion shillings ($27.20 million), rejecting the bulk of the bids which totalled 7.62 billion shillings, a subscription rate of 190.51 percent. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Yields on Egypt's 91-day and 266-day t-bills rise CAIRO: Yields on Egypt's three and nine-month treasury bills rose at Sunday's auction, data from the central bank showed. The average yield on Egypt's 91-day bill rose to 11.358 percent from 11.336 percent on Dec. 27 and the yield on the 266-day bill jumped to 11.859 from 11.796 percent in a similar auction on Dec 27. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Egypt bond auction yields to rise no more than 20 bps after rate hike CAIRO: Yields on Egypt's 18-month, three-year, and seven-year Treasury bonds are likely to rise by no more than 20 basis points at an auction on Monday, bankers said, despite a 50 basis point rise in interest rates just four days ago.The bond auction is the first since the central bank's monetary policy committee (MPC) raised interest rates on Thursday, citing inflationary pressures.That fuelled expectations that government debt yields would increase by at least 50 basis ...

Markets - Fixed Income - Middle East & Africa

UAE's Commercial Bank International issues $125mn in Tier 1 bonds DUBAI: Commercial Bank International (CBI), the Abu Dhabi-listed lender, said on Tuesday it has issued $125 million worth of capital boosting perpetual bonds.The lender said the bond which will boost its tier 1 ratio - regarded as one of the key indicators of a bank's health - has been privately placed, according to a statement to the bourse.The transaction would be settled on Wednesday, it said.Copyright Reuters, 2015 ...

Markets - Fixed Income - Middle East & Africa

Egypt's 5-year, 10-year treasury bonds steady at auction CAIRO: Yields on five-year and 10-year treasury bonds were steady at an auction on Monday, data from the central bank showed.The average yield on Egypt's five-year bond rose marginally to 13.174 percent from 13.172 percent in the previous auction, on Dec. 7, while yields on the 10-year bond dropped marginally to 15.365 percent from 15.373 percent on Dec. 7.Copyright Reuters, 2015 ...