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Brazilian Companies raise $3.65 Billion from Debt Market Ahead of World Cup
SÃO PAULO — Three Brazilian companies raised a total of $3.65 billion from overseas bond issues, seeing a strong demand from international investors, just a few hours before the start of the World Cup on Thursday.
State-run bank Banco do Brasil SA, meatpacker JBS SA JBSS3.BR +0.25% and local industrial conglomerate Votorantim Industrial opted to tap the debt market just ahead of the World Cup as it is expected to reduce debt market activity for the Brazilian companies during the soccer tournament.
Banco do Brasil said it raised $2.5 billion with a perpetual-bond issue paying an annual interest rate of 9%. The issue attracted demand of $12.5 billion from investors. The bank said it would use the proceeds to reinforce its capital position.
Meanwhile, JBS, the world’s biggest meatpacker in terms of revenue, raised $750 million from an overseas bond due in 2024. It will use the proceeds to buy back a total of $650 million of its outstanding bonds due in 2016.
Votorantim raised $400 million from its 10-year bond issue and it will use the proceeds to buy back certain outstanding bonds.
According to analysts, the number of investors in the market is likely to be lower due to the timing of the bond offerings coming at the start of the World Cup.
The World Cup will start late Thursday and runs through July 13. On days when Brazil’s national team plays, much of Brazil will be on vacation.
– WALLSTREET JOURNAL
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Musa Joins Jaiz Bank As Ambassador
Super Eagles Captain, Ahmed Musa has been signed up by Jaiz Bank as a brand ambassador.
An elated Musa made the disclosure in a statement on his verified handle on micro-blogging site, X on Thursday.
The Kano Pillars striker urged his fans to troop to Jaiz Bank to do business for trusting him with the new role.
He exclaimed, “And to my amazing fans – if you want to support me, make sure to head over to Jaiz Bank and open your accounts with them today! ”
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He wrote, “✨Alhamdulillah✨ I am SO excited to announce that I’ve officially joined Jaiz Bank as their newest ambassador! 🎉💼
“A huge thank you to @JaizBankNG for trusting me and allowing me to be a part of this amazing journey! 🙏🏼💚 It’s an honor to represent a brand that believes in growth, security, and financial empowerment.
“I can’t wait to share all the incredible things we’ll be doing together! 🚀💡
And to my amazing fans – if you want to support me, make sure to head over to Jaiz Bank and open your accounts with them today! Let’s grow together! 💪🏼🔑
“@JaizBankNG is a non interest Financial institution poised with a mission to make life better through ethical Finance. 👌👌”
#NewBeginnings #BankWithJaizBank #PartneredUp #TeamJaizBank”
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Kenya Celebrates First Lady Rachel Ruto’s 56th Birthday
On November 20, 2024, Kenya’s First Lady, Rachel Ruto, celebrated her 56th birthday and her husband President William Ruto publicly expressed his love and appreciation for his wife on this special day, wishing her well.
The birthday celebrations were marked by an outpouring of goodwill from political figures, media, and citizens across Kenya, who praised her for her grace, leadership, and significant contributions to society, particularly through initiatives like the Joyful Women Organisation, which aims to empower rural women.
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The day was characterized by a collective acknowledgment of her role as a national figure dedicated to community upliftment.
In a heartfelt message, President William Ruto took to social media, writing, “Happy birthday my love, @MamaRachelRuto. Continue being a blessing to me and our children. Mungu akubariki sana,” which translates to “God bless you abundantly.”
Other prominent leaders also extended their wishes to the First Lady, with Anne Waiguru, EGH, OGW, Governor of Kirinyaga County, tweeting, “Happy Birthday First Lady,” further showing the respect and admiration for Rachel Ruto’s leadership and impact.
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Gas Explosion in Katsina Filling Station Damages Six Vehicles
A gas cylinder explosion at a filling station in Jibia Local Government Area of Katsina State has resulted in significant damage to six vehicles, according to a statement from the Katsina State Police Command.
The command’s spokesperson, Abubakar Sadiq-Aliyu, confirmed the incident, which occurred on Friday, November 15, 2024.
He explained that a loud explosion alerted police operatives from the Jibia Divisional Police Headquarters. Responding promptly, the Divisional Police Officer led a team to the site, supported by military personnel.
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“Upon arrival, operatives found a truck loaded with gas cylinders engulfed in flames at Tamal filling station, along Kagadama-Magamar Jibia Road,” Sadiq-Aliyu stated. The joint team acted swiftly, deploying measures to protect lives and limit property damage. Their efforts successfully extinguished the fire.
The spokesperson added, “Six motor vehicles were significantly affected by the fire incident, but fortunately, no life was lost.”
State Commissioner of Police, Aliyu Abubakar-Musa, has directed a thorough investigation to determine the cause of the explosion. Updates on the findings will be provided as investigations progress.
This incident highlights the need for heightened safety measures at gas filling stations to prevent such occurrences.