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Hunting for Eurobonds
- Source: Africa Renewal, Volume 28, Issue 1, Apr 2014, p. 30 - 32
- French
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- 30 Apr 2014
Abstract
Attracted by the prevailing low interest rates, cash-strapped African countries looking to borrow money on international private markets are increasingly turning to Eurobonds as the instrument of choice. In 2006, Seychelles became the first country in sub-Saharan Africa, other than South Africa, to issue bonds. A year later Ghana followed, raising $750 million in Eurobonds. Since then they have been joined by Gabon, Senegal, Côte d’Ivoire, the Democratic Republic of Congo, Nigeria, Namibia and Zambia.
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