Angola plans to issue another US$500 million in Eurobonds

17 July 2018

The Angolan government is negotiating an additional US$500 million on the issue of US$1.25 billion in 30-year bonds issued in May, along with another issue of US$1.5 billion over 10 years, Reuters reported.

Negotiations for the placement of this new issue are being conducted by Goldman Sachs, Deutsche Bank and the China Commercial and Industrial Bank (ICBC), the same ones that were involved in the previous issue.

The second issue of Eurobonds received 500 purchase proposals from investors from the United States, Europe and Asia, with demand totalling around US$9 billion, according to the Angolan Ministry of Finance.

The first time Angola issued Eurobonds, or sovereign bonds in foreign currency, was in 2015 when the country issued 10-year debt in the amount of US$1.5 billion. (macauhub)