01192017Thu
Last update: Thu, 19 Jan 2017 08pm

Middle East & Africa

Markets - Fixed Income - Middle East & Africa

Nigeria to raise 117bn naira treasury bills at auction LAGOS: Nigeria plans to sell 117.17 billion naira ($371.97 million) in short-dated treasury bills at an auction on Nov 30, the central bank said on Tuesday. The bank said it will sell 45.85 billion naira in three-month papers, 18 billion naira in six-month bills and 53.32 billion naira in one-year bills. Payment for the purchases would be made on Thursday. Nigeria issues treasury bills to fund its budget deficit, manage banking system liquidity and curb rising inflation. The 2016 budget deficit was estimated at 2.2 trillion naira, of which around 900 billion naira is expected to come from local borrowing. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

South Africa's 3-month T-bill average yield steady JOHANNESBURG: South Africa sold 3.55 billion rand in three-month Treasury bills on Friday, at an average yield of 7.54 percent, compared with 7.55 percent last week, central bank data showed.Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

ADFG launches $200mn fund on Abu Dhabi's financial free zone ABU DHABI:: Abu Dhabi Financial Group (ADFG), on Tuesday launched a $200 million fund to invest in Gulf equities, the first fund on the Abu Dhabi Global Market (ADGM). ADGM, the emirate's financial free zone, allows fund managers to set up funds for all types of investors.Some 170 local and international companies have been licensed to operate at ADGM since it opened in October last year.Privately owned ADFG, which currently has $4.7 billion in assets ...

Markets - Fixed Income - Middle East & Africa

South Africa's 3-month T-bill average yield inches up JOHANNESBURG: South Africa sold 3.55 billion rand ($253 million) worth of three-month Treasury bills on Friday at an average yield of 7.55 percent compared with 7.53 percent last week.Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Saudi Arabia raises $17.5bn in first international bond offering: HSBC PARIS: Saudi Arabia raised $17.5 billion in its first international bond issue, HSBC announced Thursday, after the bank took part in the transaction.Saudi Arabia divided the issue into three tranches with maturities of five, 10 and 30 years respectively, HSBC said.The $5.5 billion in 5-year bonds carries a coupon that pays annual interest of 2.375 percent. A further $5.5 billion of 10-year bonds carries a coupon of 3.25 percent interest and the $6.5 billion in ...

Markets - Fixed Income - Middle East & Africa

Burkina Faso to issue two-year 35bn CFA bond on Oct.27 ABIDJAN: Burkina Faso will issue a 35 billion CFA franc ($59 million) two-year bond on Oct. 27, a statement from the West African regional debt planning agency UMOA-Titres said on Wednesday. The bond with multiple interest rates will be sold in units of 1 million CFA francs to investors across the CFA franc currency zone via an auction organised by the regional bank BCEAO. Copyright Reuters, 2016 ...

Markets - Fixed Income - Middle East & Africa

Yields rise on Egyptian 3-year and 7-year bonds; 1.5-year bond cancelled CAIRO: Egypt's Finance Ministry cancelled its 1.5-year treasury bond at Monday's auction while the yields on the three-year and seven-year bonds rose, data from the central bank showed. The yield on the three-year bond rose to 17.037 percent from 16.982 percent on Oct. 3 and the yield on the seven-year bond rose to 17.419 percent from 17.393 percent in the last auction. Copyright Reuters, 2016 ...