Weltnachrichten – UK – Ivory Coast brings Eurobond sales by € 1 billion

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ABIDJAN – This week’s Ivory Coast Eurobond sale, Africa’s first sub-Saharan Africa in the pandemic, raised € 1 billion. 19 billion) and was oversubscribed five times, the government said on Wednesday.

The bond’s yield was around 5% and the funds will be used to cover the 2020 budget deficit, government spokesman Sidi Toure told reporters.

In sub-Saharan Africa, no debt has been sold since Ghana and Gabon sold debt earlier in the year before the coronavirus pandemic hit global markets. Zambia became the region’s first default earlier this month.

More vulnerable issuers in the region such as Angola or Mozambique would have difficulties entering the markets as they are still faced with increased borrowing costs. (Reporting by Loucoumane Coulibaly; writing by Aaron Ross, editing by Bate Felix)

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Côte d’Ivoire, Eurobond, Bond, 1. 000. 000. 000 euros,

Weltnachrichten – GB – Ivory Coast brings in 1 billion euros in the sale of Eurobonds
Related title :
Ivory Coast Raises € 1 Billion when selling Eurobond a

Ref: https://financialpost.com

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