Angola issues US$3 billion in Eurobonds

3 May 2018

The Angolan government has placed about US$3 billion in Eurobonds through two 10- and 30-year debt issues, with interest rates ranging from 8.25% to 9.5%, according to the Bloomberg financial news agency.

Interest rates on the 10-year issue were between 8.25% and 8.37%, paid annually, while the 30-year debt issue was between 9.3% and 9.5%.

The minimum investment amount, according to Bloomberg, was US$200,000, in a public debt issue in foreign currency (Eurobonds) coordinated by investment bank Goldman Sachs.

Last April, Finance Minister Archer Mangueira said he was expecting to pay an interest rate of 7.0% on the country’s second issue of Eurobonds in May of a minimum amount of US$2 billion.

Angola’s Annual Debt Plan for 2018 outlines that the country intends to raise 6.721 billion kwanzas (US$31 billion) in public debt in 2018, totalling US$67 billion of debt. (macauhub)