Sonangol taps the bond market in an unprecedented $150m deal

Sonangol taps the bond market in an unprecedented $150m deal

The Angolan state-owned oil company has never resorted to issuing debt on the market. It wants to attract investors as its accounts recovered strongly in 2021. The group is following the example of the Angolan state, which successfully raised money this year with the support of Citi, Deutsche Bank and Norton Rose.

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            ▪ Sonangol taps the bond market in an unprecedented $150m deal

▪ The Angolan state-owned oil company has never resorted to issuing debt on the market. It wants to attract investors as its accounts recovered strongly in 2021. The group is following the example of the Angolan state, which successfully raised money this year with the support of Citi, Deutsche Bank and Norton Rose.

https://www.africabusinessplus.com/en/814093/sonangol-taps-the-bond-market-in-an-unprecedented-150m-deal/

Sonangol intends to raise the equivalent in kwanzas of $150 million on the bond market. However, the state-owned oil group, headed by Sebastião Gaspar Martins since the dismissal of his predecessor in 2019, did not provide details on the timetable for this fundraising nor the conditions for its implementation.

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