Angola to issue up to US$2 billion in Eurobonds

9 August 2017

The Angolan government plans to resume issuing debt in the form of Eurobonds, under a presidential order authorising the Finance Minister to place up to US$2 billion to “improve the composition of the external debt portfolio.”

The presidential order specifies that the authorisation now granted derives from the need to begin work on gauging the eventual attraction of external financing by means of Republic of Angola government bonds.

The document recalls the successful operation in 2015 when Angola went ahead with a Eurobond issue that “helped establish a new and important channel of access to external financing.”

Angola debuted in Eurobond issuance in November 2015, raising US$1.5 billion via a syndicate of banks led by the American Goldman Sachs International and including the German Deutsche Bank and the Chinese ICBC International.

The 2017 indebtedness plan envisages gross financing needs of 4.667 trillion kwanzas (US$28 billion); 75 percent of that total is to be raised in the internal market. (Macauhub)