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04 May 2018

Angola Eurobond 2018

Second Eurobond deal worth US$ 3 billion

The Angolan government announced that it has raised US$ 3 billion in its second Eurobond issue in international markets. The deal included two parts, namely (1) US$ 1.75 billion of 10-year bonds with a yield of 8.25% and (2) US$ 1.25 billion of 30-year bonds with a yield of 9.375%. There was strong appetite for the deal, with demand from 500 investors based in the US, Europe and Asia reaching nearly US$ 9 billion.

The government added that this Eurobond deal is a sign of investors' confidence in the reform plans being implemented by President João Lourenço since his election in August 2017. These are reflected in the government's Macroeconomic Stability Plan as well as the National Development Plan (2018-22).