Gabon Offers Juicier-Than-Expected Yield in Debt-for-Nature Deal
- Gabon blue bond priced 200 basis points over Treasuries Monday
- Proceeds will fund buyback of nation’s existing dollar notes
The commercial port area in Port-Gentil, Gabon, in 2022.
Photographer: Guillem Sartorio/BloombergThis article is for subscribers only.
Bank of America Corp. has raised the yield on a $500 million blue bond for Gabon in an effort to drum up investor interest.
The sale is part of a so-called debt-for-nature swap that will be used to finance a buyback of Gabon’s existing dollar-denominated bonds and help support marine conservation in the country.