Published On: Mon, Oct 26th, 2015

Angola launches $1,5 billion Eurobond

bondsLUANDA, (CAJ News) – ANGOLA has announced the launch of a US$1,5 billion Eurobond.

The sovereign debt bonds launched in the international market is under the Executive public finance management policy, in accordance with the long-term economic and financial development programme.

President Jose Eduardo dos Santos has, after a process of study and consultation on the feasibility, convenience, acceptability and resultant cost of a sovereign issuance on international markets, has granted a Letter of Mandate which authorizes the international financial institutions- Goldman Sachs International, Deutsche Bank and the
Industrial and Commercial Bank of China (ICBC)-to act as agent banks on behalf Angola for the sovereign issuances that the country is now carrying out.

The sovereign issuance now taking place on the London Stock Exchange culminates the efforts begun in 2011.

Among the main benefits that this sovereign issuance may lead to are diversification of sources of external financing, establishment of long-term funding sources, positive impact in terms of evaluation of credit rating agencies, construction of a yield curve possible increase in international reserves.

CAJ News

Featured Video