Congo raises $700mn eurobond before election, extends debt to 2035

Kinshasa, Democratic Republic of Congo. Photo by Johnnathan Tshibangu @ Unsplash
Kinshasa, Democratic Republic of Congo. Photo by Johnnathan Tshibangu @ Unsplash
  • $700mn raised before March 15 election
  • Debt extended to longest-ever 2035 maturity

 

BRAZZAVILLE, CONGO – The Republic of Congo has raised $700 million through a new international bond due 2035, extending its debt maturity profile weeks before a presidential election on March 15.

The 9.5% note marks the Central African oil producer’s first public international offering since private placements late last year. Investor demand exceeded $2 billion from more than 100 accounts, allowing the yield to tighten by 37.5 basis points during pricing.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


Recent Business

A vibrant display of traditional dance in Botswana. Photo by Xitsundzuxo Himina @ Pexels
Why Botswana’s inflation surge signals wider risks for commodity economies
Read More »
Molten metal pouring from ladle in industrial foundry. Photo by Bence Szemerey @Pexels
Can Kipushi’s zinc boom in Congo redraw Africa’s commodity power balance?
Read More »
Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
Is Senegal drifting towards default as political rift deepens?
Read More »

Recent Politics

Planes on the tarmac of an airport. Photo by Max Chen @ Pexels
Can Togo become West Africa’s aviation hub after going visa-free?
Read More »
Policeman on the street of Addis Ababa, Ethiopia. Photo by Hailegebrel Nigussie @ Unsplash
Ethiopia’s national dialogue begins with legitimacy already on trial
Read More »
Port Harcourt, Nigeria. Photo by Emmanuel Ikwuegbu @ Unsplash
Can Nigeria’s war on terror financing succeed where military force has struggled?
Read More »

Latest Posts

Latest news insights