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Benin Issues First African Eurobond in 2021

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The republic of Benin has issued the first African Eurobond for 2021.

The 1 billion euros’ issuance was split between an 11-year tranche yielding 5.125 percent and a 31-year tranche yielding 7.25 percent.

Analysts say improved sentiment over rising oil prices, vaccines rollout, and possible reforms by governments will lure foreign investors to Sub Saharan Africa Eurobonds in 2021.

The total Eurobond outstanding by ten largest economies in African countries stood at $99.30 billion, according to data gathered by United Capital.

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