Angola Opens Local Bond Market to Foreign Investors, Targets $18.6 Billion Issue
Angolan officials are negotiating with JPMorgan to list local currency debt on an international index while testing investor demand in Luanda for a government bond issue valued at $18.6 billion.
Finance Minister Vera Davis de Sousa stated that Angola is actively working to open its domestic sovereign bond market to foreign capital. The specific plan involves a government bond issuance with a total value of 18.6 billion dollars. De Sousa told Reuters that the Ministry of Finance is in talks with JPMorgan regarding the potential inclusion of Angola in a new cross-border debt index denominated in local currency. Officials noted they will meet international investors in Luanda later this month to gauge demand levels and are in the process of establishing a broader access framework. Speaking at an investor conference in London, De Sousa emphasized the need for clear channels to achieve larger fundraising volumes.
