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The country is one of the most vulnerable in EM to energy price shocks
Demand allowed the pan-African bank to tighten the yield by 50bp
Uzbek bank's deal is the first deal from the country in 2026
Data
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Demand cleared $12bn for the dual sukuk and conventional deal -
One syndicate banker off the trade was impressed by starting level as orders ballooned
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The electricity firm is familiar to buyers, despite being a rare issuer
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The trade might not be the sovereign's only one of the year
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Years of credit improvements have given landlocked country a loyal following among EM investors
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The countries' euro curves trade at similar levels, but Benin will have to come wider in dollars
Sub-sections
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
