Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Ivory Coast launches first pandemic-era Eurobond in sub-Saharan Africa

11/24/2020 | 04:01am EST

LONDON, Nov 24 (Reuters) - Ivory Coast has launched the first sub-Saharan Africa pandemic-era Eurobond sale on Tuesday as developing issuers dive into global capital markets to benefit from this year's plunge in interest rates during the coronavirus crisis.

Initial pricing for the west African country's euro-denominated bond maturing in 2032 stood at 5.5%, according to a lead banker. The sale of the benchmark-sized bond is expected to be finalized later in the day.

In a statement on Monday, the finance ministry said it planned to issue new bonds as well as tender $825 million of outstanding ones and has mandated BNP Paribas, JPMorgan Securities and Standard Chartered Bank for the transaction.

Sub-Saharan Africa has seen no debt sales since Ghana and Gabon sold debt earlier in the year, before the coronavirus pandemic ripped through global markets, while Zambia became the region's first sovereign default earlier this month.

(Reporting by Karin Strohecker in London; Editing by Tom Arnold)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX 0.45% 537.93 Delayed Quote.0.36%
S&P AFRICA 40 INDEX 0.63% 174.92 Delayed Quote.-0.21%
STANDARD CHARTERED PLC -2.91% 476.6 Delayed Quote.5.37%
Latest news "Economy & Forex"
02:39pAIRBUS : Treasury nominee Yellen says markets should determine value of dollar
RE
02:28pWall Street rises as market anticipates additional U.S. stimulus
RE
02:27pUNDER GOVERNMENT PRESSURE, BIG U.S. LENDERS RUSH TO LAUNCH MORE PANDEMIC LOANS : sources
RE
02:25pCruise, GM partner with Microsoft to ramp up self-driving vehicles
RE
02:25pBoE's Haldane sees recovery 'at a rate of knots' from second-quarter
RE
02:22pEDA ECONOMIC DEVELOPMENT ADMINISTRATION : U.S. Department of Commerce Invests $975,000 to Support Aerospace Industry Training Near West Virginia Opportunity Zone
PU
02:13pMalwarebytes says its emails were breached by SolarWinds hackers
RE
01:53pAbbott's COVID-19 antigen test may help with faster detection, isolation - CDC
RE
01:50pOn eve of Biden, EU arms itself for trade disputes
RE
01:41pPandemic hit UK pubs group Wetherspoons seeks to raise cash again
RE
Latest news "Economy & Forex"