Sharp Daily
No Result
View All Result
Wednesday, June 25, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Sub-Saharan Africa returns to Eurobond Market

Joshua Otieno by Joshua Otieno
March 1, 2024
in News
Reading Time: 1 min read

Sub-Saharan African countries, dormant in the Eurobond market for two years, have made a resounding return in the current year.

Ivory Coast (Côte d’Ivoire) led the charge, issuing two bonds with maturities of 8.5 and 12.5 years, fetching coupon rates of 7.625% and 8.250%, respectively, and receiving USD 2.6 billion from the offer.

Following suit, Benin debuted in the market with a USD 750 million dollar bond with a tenor of 14 years and a coupon rate of 8.375%.

Kenya entered the fray with a highly successful but costly buyback and new offer deal. The country raised USD 1.5 billion to repurchase a significant portion of its USD 2 billion Eurobond maturing in June.

RELATEDPOSTS

No Content Available

Taking a cue from Kenya, Benin has initiated a buyback program for its Eurobonds, seeking to repurchase its 5.75% 2026 (€176.36 million outstanding) and 4.875% 2032 (€700.0 million outstanding) maturities.

Benin’s buyback program, set to commence on February 28th with a tender expiry date of March 6th and an anticipated settlement date around March 12th, reflects a proactive approach to managing its debt portfolio amidst evolving market conditions.

The resurgence of Eurobond issuance in Sub-Saharan Africa offers numerous benefits. It provides access to external financing for critical infrastructure projects, social programs, and economic reforms.

Additionally, it diversifies financing sources, reducing reliance on domestic borrowing, and strengthens fiscal resilience. The revival also signals attractiveness to global investors, potentially stimulating economic activity.

However, amid the optimism, caution is advised. Governments must maintain fiscal discipline and proper risk management to avoid debt distress.

Previous Post

Food inflation sees slowest rise in nearly two years

Next Post

Scores feared dead as Tahmeed bus collides with a tanker in Busia

Joshua Otieno

Joshua Otieno

Related Posts

Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025

LATEST STORIES

How dairy bonuses are becoming a lifeline for Kenyan farmers

June 25, 2025

How dormant assets could be a hidden economic engine

June 25, 2025

Rethinking lifestyle inflation: The quiet investment killer

June 25, 2025

How Kenya can compete with global employment markets

June 24, 2025

Why Athi River deserves your investment

June 24, 2025

Parliament slashes tax on digital asset trades: What this means for investors

June 23, 2025

Understanding Joint Ventures: A strategic tool in modern business

June 23, 2025

How bushy can a bush safari get?

June 20, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024