TCX and FMO issue first ever offshore Congolese franc note


Yesterday, the Dutch entrepreneurial development bank (FMO) issued on the Luxembourg Stock Exchange the first ever offshore Congolese franc note, with a countervalue of $20m (or about FCFA 40bn) and 14-month tenor. The issuance of the AAA-rated note was supported by TCX, a fund specialised in shielding international lenders and their local borrowers in emerging […]

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Nigerian institutional investors back bonds issuance from country’s leading free zone


The Lagos Free Zone Co. (LFZC), a subsidiary Singaporean conglomerate Tolaram, has successfully issued a NGN 10.5bn 20-year Series 1 Senior Guaranteed Fixed Rate Corporate Infrastructure Bonds, the company said today. The issuance falls under a NGN 50bn debt issuance programme aimed at securing financing to expand what has become Nigeria’s most modern and integrated […]

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Moody’s upgrades Angola’s long-term issuer ratings


Moody’s Investors Service had just upgraded the Government of Angola’s foreign and local currency long-term issuer rater from Caa1 to B3 while maintaining a stable outlook for the country. Moody’s upgrade follows the improvement of Angola’s credit profile on the back of stronger governance and better fiscal management. In particular, Moody’s expects a continued improvement […]

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In 6 Months, Benin Has Raised Over 10% of its GDP in Eurobonds


In January, Benin had kicked off Africa’s financial year with a historic €1bn Eurobond issuance split in two tranches. In July, it continued to tap global capital markets and became Africa’s first nation to issue an SDG-link Eurobond that raised another €500m. In total, the small country of 12m people, often overshadowed by its big […]

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