LUANDA, Mar 24 – Angola is moving to repurchase $1.75 billion of its outstanding 8.25% bonds due in 2028, as part of a broader strategy to manage its debt profile ahead of a planned Eurobond issuance.
The government has launched an offer to buy back the notes at $1,020 per $1,000 principal amount, according to an official statement. The repurchase offer is set to expire on March 30 at 5 p.m. New York time, with settlement expected around April 1.
Proceeds from the planned issuance of new dollar-denominated bonds may be used to support the buyback operation, depending on market conditions, in what forms part of a liability management strategy aimed at optimizing debt structure and reducing refinancing risks.
Global financial institutions including Citigroup, Deutsche Bank, JPMorgan and Standard Chartered have been appointed as dealer managers for the transaction.
The move reflects Angola’s continued engagement with international capital markets as it seeks to actively manage its external debt obligations while maintaining access to global financing channels.
