Benin to Sell Debut Dollar Bonds as African Borrowers Return
- Offering comes after Ivory Coast resumed sub-Saharan sales
- Benin’s euro bonds have joined EM rally in recent months
This article is for subscribers only.
Benin is meeting investors in New York on Monday to drum up demand for its first-ever dollar bonds, marking a pickup in sovereign debt offerings from Africa this year.
The west African nation plans a minimum $500 million bond with a 14-year final maturity to fund its budget, according to a person with knowledge of the matter. Citigroup Inc., JPMorgan Chase & Co. and Societe Generale SA have arranged a global investor call and meetings in London and New York, the person said, asking not to be identified as they’re not authorized to speak about the plans.