Angola more than two times subscribed for $3bn trade

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By Ross Lancaster
20 Nov 2019

The Republic of Angola printed a $3bn two tranche trade on Tuesday with no new issue premium, waving off any concerns that investors might be wary of a borrower in a complicated economic situation.

Angola, rated B3/B-/B, announced two benchmark bonds with 10 and 30 year maturities on Tuesday morning. Joint global coordinators Deutsche Bank and Standard Chartered gave initial price thoughts in the 8.25% area for the 10 year and 9.375% area for the 30 year. ICBC was ...

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