- Sixfold oversubscription as investors bid $3.5 billion for Benin’s 16-year Eurobond.
- Yield of 8.625% lower than initial target, reflecting confidence in Benin’s fiscal management.
Benin’s $500 million Eurobond issuance, the first by an African nation this year, attracted strong investor interest, with bids exceeding six times the offer. The 16-year bond, maturing in January 2041, was priced at a yield of 8.625%, below the initial guidance range of 9.25% to 9.375%, as the pricing coincided with a rally in Benin’s existing dollar-denominated bonds. Total investor bids reached $3.5 billion.
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