S. Africa Sells First Dollar Bond Since ‘22, Raises $3.5 Billion
- Nation launched 12-year and 30-year dollar securities
- New bonds were oversubscribed with $10 billion in demand
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South Africa’s first dollar bond sale since 2022 drew strong demand, signaling confidence in a coalition government formed after May elections.
The country raised $3.5 billion through two bonds with maturities of 12- and 30-years, priced at yields of 7.1% and 7.95% respectively. Demand for the new bonds exceeded $10 billion.