Lisbon, Portugal, 11 May – The Angolan government plans to issue US$500 million (350 million euros) in euro-bonds in September, according to Portuguese financial newspaper, Diário Económico.

In 2010 the three main rating agencies classified Angola’s debt as “speculative” and Standard & Poor’s and Fitch rated it as “B+” and Moody’s rated it “B1”.

Since January the Angolan government has issued sovereign debt on 24 occasions on the domestic market, all with a maturity of less than a year and totalling 121 billion kwanzas (around US$1.3 billion).

Operations with a maturity of over 12 months have an average annual cost of 12.46 percent. (macauhub)