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Story summary
- Angola plans to raise $2.5 billion through dollar-denominated bonds, issuing $1.5 billion in seven-year notes at 9.375% and $1 billion in 11-year notes at 9.875%.
- Orders exceeded $5.2 billion, signaling strong investor demand.
- Proceeds will repurchase the country's existing 8.25% notes due 2028.
- Nigeria faces domestic refining issues costing about $30 million daily and petrol prices above ?1,000 per litre.
- Angola's strong fiscal position helps it weather tightening global credit conditions better than peers.
