For Online E-newspaper
The East African : December 9th 2013
The EastAfrican 58 BONDS WEEKLY STATISTICS 5-Dec-2013 GOVERNMENT OF KENYA FIXED RATE TREASURY BONDS Issue No. FXD 1/2012/2Yr FXD 2/2012/2Yr FXD 3/2012/2Yr FXD 4/2012/2Yr FXD 1/2013/2Yr FXD 2/2013/2Yr FXD 3/2013/2Yr FIVE YEAR BONDS FXD 1/2009/5Yr FXD 1/2010/5Yr FXD 2/2010/5Yr FXD 1/2011/5Yr FXD 1/2012/5Yr FXD 1/2012/5Yr FXD 1/2013/5Yr FXD 2/2013/5Yr FXD 3/2013/5Yr FXD 3/2013/5Yr SEVEN YEAR BONDS FXD 2/2006/7Yr FXD 1/2007/7Yr EIGHT YEAR BONDS FXD1/2006/8Yr FXD1/2007/8Yr NINE YEAR BONDS FXD 1/2006/9Yr TEN YEAR BONDS FXD 1/2006/10Yr FXD 2/2006/10Yr FXD 1/2007/10Yr FXD 1/2008/10Yr FXD 2/2008/10Yr FXD 3/2008/10Yr FXD 1/2009/10Yr FXD 1/2010/10Yr FXD 2/2010/10Yr FXD 1/2012/10Yr FXD 1/2013/10Yr ELEVEN YEAR BONDS FXD1/2006/11Yr TWELVE YEAR BONDS FXD1/2006/12Yr FXD1/2007/12Yr FIFTEEN YEAR BONDS FXD1/2007/15Yr FXD2/2007/15Yr FXD3/2007/15Yr FXD1/2008/15Yr FXD1/2009/15Yr FXD1/2010/15Yr FXD2/2010/15Yr FXD1/2012/15Yr FXD1/2013/15Yr FXD2/2013/15Yr TWENTY YEAR BOND FXD1/2008/20Yr FXD1/2011/20Yr FXD1/2012/20Yr Issue Date Maturity Date 30-Apr-12 28-Apr-14 Issued Value in millions 6,418.05 27-Aug-12 25-Aug-14 16,312.35 29-Oct-12 27-Oct-14 24-Dec-12 22-Dec-14 25-Feb-13 23-Feb-15 25-Mar-13 23-Mar-15 26-Aug-13 24-Aug-15 21-Sep-09 15-Sep-14 24-May-10 18-May-15 30-Nov-10 23-Nov-15 31-Jan-11 25-Jan-16 28-Jan-13 22-May-17 28-Jan-13 22-May-17 29-Apr-13 23-Apr-18 1-Jul-13 25-Nov-13 25-Nov-13 25-Jun-18 19-Nov-18 19-Nov-18 25-Dec-06 16-Dec-13 30-Jul-07 21-Jul-14 27-Feb-06 17-Feb-14 26-Feb-07 13,786.50 20,777.16 20,468.11 19,967.33 17,927.92 13,239.10 3,060.25 14,929.20 22,083.10 17,687.98 17,687.98 20,165.56 Coupon (%) 13.826 11.114 12.496 12.382 12.844 12.940 12.939 9.5000 6.9510 6.6710 7.6360 11.8550 11.8550 12.8920 12,888.00 11.3050 14,946.55 14,946.55 11.9520 11.9520 2,317.95 8,269.85 16-Feb-15 24-Apr-06 13-Apr-15 27-Mar-06 14-Mar-16 29-May-06 16-May-16 29-Oct-07 29-Oct-07 16-Oct-17 16-Oct-17 28-Jul-08 16-Jul-18 29-Sep-08 28-Sep-18 27-Sep-09 15-Apr-19 26-Apr-10 1-Nov-10 13-Apr-20 19-Oct-20 25-Mar-13 13-Jun-22 26-Aug-13 19-Jun-23 25-Sep-06 11-Sep-17 28-Aug-06 13-Aug-18 3,318.80 13,764.30 2,656.90 3,451.05 5,028.10 9,308.80 2,992.75 13,504.70 4,151.80 4,966.85 19,394.15 18,849.90 10,520.46 526.69 4,031.40 3,900.95 28-May-07 13-May-19 4,864.60 26-Mar-07 7-Mar-22 25-Jun-07 6-Jun-22 26-Nov-07 7-Nov-22 31-Mar-08 13-Mar-23 26-Oct-09 7-Oct-24 29-Mar-10 10-Mar-25 25-Apr-11 8-Dec-25 24-Sep-12 6-Sep-27 29-Jul-13 29-Apr-13 7-Feb-28 10-Apr-28 30-Jun-08 5-Jun-28 30-May-11 5-May-31 27-May-13 1-Nov-32 TWENTY FIVE YEAR BOND FXD1/2010/25Yr THIRTY YEAR BOND SDB 1/2011/30Yr 3,654.60 7,236.95 12.0000 9.7500 13.2500 12.7500 13.5000 14.0000 14.0000 10.7500 10.7500 10.7500 10.7500 10.7500 8.7900 9.3070 12.7050 12.3710 13.7500 14.0000 13.0000 14.5000 13.5000 18,030.20 12.5000 7,830.90 9,420.45 10,206.45 13,513.10 21,089.45 6,337.38 15,646.23 20,360.35 9,365.80 4,389.35 28-Jun-10 28-May-35 20,192.50 28-Feb-11 21-Jan-41 22,136.45 12.5000 12.5000 10.2500 9.0000 11.0000 11.2500 12.0000 13.7500 10.0000 12.3500 11.2500 12.0000 13.7500 11.4000 11.9000 Traded yield (%) Previous Price (%) 107.4578 100.2844 101.4593 101.4309 101.8645 102.2033 102.8728 99.2369 92.6968 91.6247 93.2973 100.1500 100.9936 104.0408 98.4284 102.0435 102.0435 100.5598 98.4657 102.7421 100.8097 100.8356 105.0239 104.9510 87.7671 96.2461 90.6357 96.8658 94.6174 85.8422 87.0802 99.9759 101.4875 99.5137 108.5958 101.9314 112.9421 106.7821 97.3861 13.0000 100.7864 99.9849 76.5819 78.4434 86.4275 101.7404 93.2300 13.7000 102.6739 76.6763 89.8152 82.5120 89.4808 150,000,000 If the deal is app≥oved, the fi≥m will have cash fo≥ explo≥ation without diluting the sha≥eholding of othe≥ owne≥s By DAVID MUGWE The EastAfrican S hareholders of oil and gas explorer Ophir Energy will in the next two weeks vote on whether the company should sell a 20 per cent stake in three key blocks off the shore of Tanzania to Singapore-based Pavilion Energy. The London Stock Ex- change-listed company at the end of last week released a shareholder circular on the transaction, which was first disclosed on November 14. Pavilion Energy wishes to 100,000,000 30,400,000 purchase a 20 per cent interest in Tanzania’s offshore blocks 1, 3 and 4 and a 17.6 per cent interest in each of the three midstream companies related to the blocks for $1.288 billion. If the deal is approved, Ophir Energy will access cash that it can use for exploration without diluting the shareholding of other owners. The deal will also allow Ophir Energy to cash in on its investments while spreading the risks associated with the development of the gas re- sources already discovered. “The board believes that development of gas discoveries in blocks 1, 3 and 4 Tanzania as well as development of associated LNG export infrastructure, will take significant time and will require considerable expertise and financial resources,” says the shareholders circular. Ophir currently holds a 40 per cent interest in the three blocks and a 35.20 per cent interest in each of the three mid-stream companies, Ruvuma Pipeline, Mzalendo Gas Processing and Fahari Marketing, which were established for the development of the blocks. The three blocks are co-owned by BG Group. “The aggregate considera- tion to be received at completion for the transaction is approximately $1.250 billion. The group is entitled to receive further contingent consideration of $38 million in cash following the final investment decision in respect of blocks 1, 3 and 4,” says Ophir’s shareholders circular. The sale to Pavilion Ener- gy is, however, dependent on clearance from the Fair Competition Commission of Tanzania and approval of shareholders and the government of Tanzania. On Tuesday, Tanzania’s President Jakaya Kikwete said that the country will support the sale of the 20 per cent stake. “We have assured them that our government will smoothly facilitate the transaction of the shares. We have also assured them timely ap- provals from the relevant Tanzanian authorities as according to Tanzanian laws and regulations,” said Kikwete in a statement posted on his Twitter account on Thursday. Build LNG portfolio Seah Moon Ming, Pavilion Energy group chief executive, said the investment in Tanzania will help the company build up its LNG portfolio, adding that the blocks are estimated to hold about 15 tcf of gas with the first gas delivery expected to begin in 2020. Oil majors have over the past two months heightened their fundraising strategies, seeking finances to run their drilling and exploration activity in the East Africa. Late October, Africa Oil announced a share sale whose proceeds will be used on activities in East Africa. The company, which is listed on Toronto’s TSX Venture Exchange and on Sweden’s NASDAQ OMX in Stockholm, said that it was selling 56.5 million shares at $8.01 per share. The oil explorer was targeting raising $450 million through the share sale, whose joint bookrunners are Citigroup Global Markets, Dundee Securities Europe LLP and Pareto Securities AS. Pancontinental and FAR Ltd said in June that they are seeking an additional partner for block L6 so that they can raise funds to commence drilling on the block, in which they have a 40 per cent and 60 per cent stake respectively. Total Value traded (kshs) MARKETS DECEMBER 7-13,2013 FUNDRAISING 222,000,000 400,000,000 Oil majors have over the past two months heightened their fundraising strategies, seeking finances to run their drilling and exploration activity in the East Africa. Pic: File Will Ophir Energy sell a 20pc stake to Pavilion?
December 2nd 2013
December 16th 2013