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South Africa Raises $5 Billion in Its Biggest-Ever Eurobond Sale

  • The offering included 30-year dollar securities yielding 5.75%
  • Nation raised more than planned due to high investor demand
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Photographer: Waldo Swiegers/Bloomberg
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South Africa raised $5 billion in its biggest Eurobond sale to date, looking to offer returns that compensate investors for the country’s fiscal challenges.

The deal on Monday was split between a $2 billion 10-year tranche and $3 billion of 30-year notes, yielding 4.85% and 5.75% respectively. The government had planned a $4 billion deal, but issued more after the transaction was 2.7 times oversubscribed, it said in a statement.