Gabon sneaks in with $200m tap in busy week for Africa politics

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By Virginia Furness
10 Aug 2017

Gabon on Monday raised $200m with a reopening of its bonds maturing 2025 in a week that has also kept investors in African Eurobonds on their toes with a no-confidence vote in South Africa and presidential elections in Kenya.

Gabon, rated B3/-/B+, slipped into the market to take full advantage of the strong bid for its debt on Monday, placing the tap with no new issue premium, according to bankers.

“Good trade, good timing, good pricing,” said a banker away from the deal.

Gabon’s trade was ...

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