With yields close to levels that previously halted African debt sales, Benin is getting ready to issue $750 million in Eurobonds. The bond, which is anticipated to have a 16-year maturity and a 15-year weighted average life, could be priced around 8%.
The government has hired Citigroup Inc., J.P. Morgan Chase & Co., and Societe Generale SA to conduct investor meetings, starting January 8
Benin is preparing to sell $750 million in Eurobonds, trying to secure external financing as yields hit levels that previously blocked African debt sales. With Benin’s 2038 dollar bonds currently trading at 8.76%, the bond, which is anticipated to have a 16-year maturity and a 15-year weighted average life, might be valued at about 8%.
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