Monday 20 November 2017

Angolan Finance Ministry still with no lead bank for new Eurobond issue

Angolan Finance Ministry still with no lead bank for new Eurobond issue
(Macauhub 08/30/17)
Angolan Finance Ministry still with no lead bank for new Eurobond issue

The process of consulting major international financial institutions before choosing the lead bank for the operation to issue sovereign debt securities in international markets is currently under way, the Angolan Finance Ministry announced on Monday in Luanda.

The official statement adds that there are no grounds for recent reports that the Russian bank VTB had supposedly been selected to assemble and lead the banking syndicate that would place Angola’s second Eurobond issue.

The Eurobond issue was authorised by Presidential Order no. 228/17 of 4 August, authorising the Finance Ministry to take the necessary steps to raise financing of nearly US$2 billion.

The inaugural Eurobond issue in October 2015 enabled Angola to begin a process of building an external yield curve and new financing mode in the international market, the aim being to lengthen the debt profile and create a reference price for national agents.

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