Deals
The Best-Performing Emerging Market Readies a New Eurobond
- Angola picks Deutsche, Goldman, ICBC for possible 10-year deal
- Devaluations since January have lowered Angolan currency risk
Photographer: Simon Dawson/Bloomberg
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Angola, whose Eurobonds have outperformed those of all its emerging-market peers this year, is readying a new dollar transaction to take advantage of higher oil prices and a new program with the International Monetary Fund.
The OPEC member plans to issue at least $2 billion of debt in international markets next month, Portuguese news agency Lusa reported on Sunday, citing Finance Minister Archer Mangueira, who was scheduled to meet investors in New York on Monday to promote the sale. The announcement took place days after the IMF pledged to help the southern African country address economic challenges.