\n Angola is set to raise $2.5 billion through the sale of dollar-denominated bonds, betting that higher oil prices driven by the Iran\u2013Israel conflict will attract strong investor demand.\n <\/p>\n
\n Africa\u2019s third-largest oil producer is offering $1.5 billion in seven-year bonds at a yield of 9.375% and $1 billion in 11-year bonds at 9.875%, according to a person familiar with the matter. Both yields are about a quarter-point tighter than the initial price guidance.\n <\/p>\n
\n Orders reportedly peaked at more than $5.2 billion, showing strong investor appetite, Bloomberg reported.\n <\/p>\n
Purpose of the Bond Sale<\/p>\n
\n Proceeds from the bond sale will partially fund Angola\u2019s offer to repurchase 8.25% notes due in 2028, although the country is not obligated to purchase any of the tendered bonds.\n <\/p>\n
\n The deal comes as Angola seeks to capitalise on renewed demand for resource-linked assets. Disruptions to oil supply chains caused by the US\u2013Israel\u2013Iran conflict have pushed global crude prices higher, making producers outside the Middle East, like Angola, more attractive to investors.\n <\/p>\n
\n This follows a previous dollar bond issuance in October, when Angola raised $1.75 billion. The new sale, however, comes amid rising borrowing costs that have challenged many emerging-market issuers.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Angola is set to raise $2.5 billion through the sale of dollar-denominated bonds, betting that higher oil prices…\n","protected":false},"author":2,"featured_media":497730,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-497729","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/497729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=497729"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/497729\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/497730"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=497729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=497729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=497729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}