Angola raises $1.75 billion in dual-tranche Eurobond issue

Angola raised $1.75 billion on its return to international capital markets with a dual-tranche Eurobond issue on Tuesday, its finance ministry said, tapping into the most favourable borrowing conditions in six years.

The Southern African oil-producing nation issued a $1 billion five-year Eurobond with a semi-annual coupon of 9.25% and a $750 million 10-year Eurobond with a coupon of 9.78%, the finance ministry said in a statement late on Tuesday.

Investor demand reached $6 billion across the bonds, the ministry said.


Angola last accessed international bond markets in 2022.

Initial pricing for the bonds was indicated at around 9.75% and 10.50%, but the bonds priced lower, reflecting healthy demand.