Africa Bonds
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Issuance net of buy-backs is not that high, and there is no sign of any indigestion -
The country has vast potential, but governance and conflict in the east are the two big headwinds
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Ivory Coast squeezed tight, taking $1.3bn in an 'aggressive' execution
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The country is one of the highest regarded sovereign issuers on the continent
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The government has been much more proactive in its debt management since a scare in 2024
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◆ Why emerging market issuers are doing less in dollars ◆ Republic of Congo located between rock and hard place ◆ The GlobalCapital Podcast was brought to you by the numbers 17, 100 and the whole Alphabet
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The yield was ultra high but Congo had little room to manoeuvre
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Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
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Observers have questioned why the country is issuing debt at this price
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The seven year dollar bond's yield will likely be one of the highest in CEEMEA in the last few years
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The familiar problem of inter-creditor opacity has also reappeared
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Company in 'no doubt' a public trade would have delivered better pricing
