Angola May Raise as Much as $3 Billion in Eurobonds
Angola’s finance minister has received approval to raise as much as $3 billion in eurobonds and at most $1 billion through the sale of yen-denominated bonds to fund the country’s 2025 spending plan.
Under the oil-producing African nation’s global medium-term note program, the minister is authorized to select the financial institutions for the issuance of the eurobonds, according to a presidential decree dated Feb. 24.
A separate presidential edict also authorized the minister to issue sovereign debt in the Japanese market. The documents didn’t say when Angola planned to sell the securities.
Finance Minister Vera Daves de Sousa is currently in New York on a non-deal road show to test investor sentiment before possible issuances.
