Ivory Coast Gets $8 Billion in Demand for Eurobond Sale
- Dollar issuance makes it eligible for key bond index inclusion
- Sells $2.6 billion, first in sub-Saharan Africa in two years
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Ivory Coast sold its first dollar bonds in almost seven years, issuing two tranches of debt totaling $2.6 billion in an offering that was oversubscribed more than three times.
The world’s biggest cocoa producer received more than $8 billion in combined demand for a sustainable bond maturing in 2033 and a conventional offering due in 2037, the Ministry of Finance and Budget said in a statement. The nation issued $1.1 billion via the sustainable bond and $1.5 billion for the conventional debt, people familiar with the matter said on Tuesday.