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ICD wins sukuk mandate from Ivory Coast, Togo – Niger looks to raise fresh funds through sukuk – Peru prices local bonds – PKO Bank Hipoteczny marketing covered bonds – South African treasury hires banks for new dollar bonds

Sep 29, 2016 // 5:17PM

The Islamic Corporation for the Development of the Private Sector (ICD), is assisting the governments of Ivory Coast and Togo with sukuk transactions that aim to be finalised by the end of the month. Ivory Coast is looking to issue a CFA150bn 7-year sukuk and Togo is looking to issue its debut CFA150bn 10-year sukuk at 6.5%.

Niger is looking to launch a sukuk programme to raise CFA150bn in two phases according to Reuters, although timing is yet to be determined.

The AfDB has been chosen as the lead financial advisor by the governments of Zimbabwe and Zambia for the construction of the US$4bn Batoka Gorge hydropower project. Meetings between the governments of both countries and the China Export & Credit Insurance Corp, Export-Import Bank of China, BNP Paribas, Societe Generale, the European Investment Bank, DBS Holdings, Barclays Africa Group, the IFC and a number of local investors and individual contractors have already been held.

PKO Bank Hipoteczny is set to issue a Euro-denominated mortgage covered bond. Moody's has awarded the bond a provisional (P)Aa3 rating.

Peru launched a PEN806.826mn (US$239.24mn) 12-year local currency bond at 6.375% according to data from Reuters.

Romania has launched a US$1bn tap of its 2028 bond at 2.15%, bringing the total size of the bond to US$2bn. Citigroup, JP Morgan, Raiffeisen Bank International, Societe Generale, CIB and Unicredit were the lead arrangers.

The AfDB is planning to hold roadshows to attract US$7.6bn to finance a railway line between Dar es Salaam in Tanzania to Kigali, Rwanda. The Export-Import Bank of China may lend the full US$7.6bn, but the AfDB wants to co-finance the project to encourage other investors to participate according to the AfDB's regional director for East Africa.

Pakistan will kick off a roadshow this week for a potential sale of a benchmark US dollar denominated sukuk, the first sovereign dollar sukuk sale since 2014.

AES Panama priced a US$75mn re-tap of its 6% 2026 bonds at 103.726 to yield 5.10%. The deal was led by Deutsche Bank.

South Africa's treasury has hired Barclays, HSBC, JP Morgan and Nedbank ahead of a potential dollar bond sale. The treasury plans to raise dollars through the sale of 12 and 30-year notes, according to a statement published on its website.

DBS Bank is preparing to issue a Euro-denominated covered bond.

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