Namibia finally nabs $500m to follow Nigeria and Senegal
The Republic of Namibia harnessed Thursday’s strong post-EU summit rally in EM debt to issue its $500m inaugural bond — the third African sovereign debut this year after Nigeria and Senegal — having already roadshowed in Europe and the US last month.
But critics argued that its 10 year was too cheap for one of sub-Saharan Africas few investment grade countries (A3 Moodys, BBB- Fitch).
Ahead of pricing after EuroWeek
went to press on Thursday night, the 5.75% note traded up one point in the grey market. It was six
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