Africa Bonds
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Debt levels were far higher than reported under the previous government, as was the deficit -
The new debt will pay for a tender of existing notes maturing in 2026
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Sovereign pays zero new issue premium as books for 10 year deal top $4.9bn
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East African sovereign could print $1bn-$1.5bn, depending on demand for the tender
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Issuance volumes net positive for first time in years
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African governments will consider this weekend setting up mutual support mechanism
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Gabon now has three years to get its house in order
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The country can now repay bonds due in June
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The country has suffered liquidity problems
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Boad's hybrid has a maturity date, unlike those from AfDB and AFC
