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Economy

Angola issues 1.5 billion debt to secure 400 million loan from JP Morgan

The Ministry of Finance will receive a loan of 400 million dollars from the North American bank JP Morgan, having issued a public debt of 1.5 billion dollars as collateral.

: Lusa
Lusa  

According to the economic studies office of Banco Fomento Angola (BFA), the public debt was issued on December 27 last year, with a spread of 650.6 basis points and maturing on December 31, 2030, and serves to secure the 400 million dollars loan from JP Morgan, but also "presumably other operations", says the BFA.

"These bonds are currently being traded at a yield of 4.5 percent, placing the Angolan issue with a yield of around 11 percent, in line with current yields on Angolan debt on the secondary market, and well above the latest issues, namely in 2022, when Angola issued 10-year debt at 8.75 percent", reads the operation analysis note.

According to presidential decree 235/2024, of December 20th, consulted this Thursday by Lusa, the Government "approves the issuance of new series of Eurobonds in international markets as collateral for operations that allow raising financing up to the limit of 1.5 billion dollars."

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