Africa-Press – Angola. The Angolan Debt and Stock Exchange (BODIVA) approved, Friday, August 25, the request to hold a special session on the stock exchange and the admission to trading of Sonangol’s private bonds, in the minimum amount of 75 billion of kwanzas.
The said special session will take place on the 13th of September and is intended to determine, based on the pre-defined screening criteria in the prospectus, the results of the offer and will culminate in the disclosure of the results, on the same day, on the BODIVA website , according to a note published by the institution.
BODIVA also informs that after the physical and financial settlement of the offer, the “Ring the Bell” session will take place on the 15th of September, which will mark the admission, and a live transaction of Sonangol’s private obligations on the Private Bond Exchange Market “MBOP”.
For BODIVA, this bond issue represents a significant milestone in the development of the Angolan capital market, insofar as it materializes the possibility of diversifying the sources of financing of a national reference company, as well as providing the market with yet another financial product for diversification of the investment portfolio and enables financial intermediaries to assist in public offerings.
It should be clarified that the calculation of results and admission to trading follow the public subscription offer, which will take place from the 28th of August to the 12th of September, under the terms indicated in the prospectus.
Debt issuance
The bond issue of 75 billion kwanzas will be at a unit price of 10,000 kwanzas, corresponding to 7,500,000 bonds, at an interest rate of 17.5% per annum.
The offer of Sonangol 2023-2028 Bonds is intended for natural or legal persons who are resident or have an establishment in Angola.
Banco Fomento Angola (BFA), Standard Bank and Áurea – Sociedade Distribuidora de Valores Mobiliários are the intermediaries responsible for placing the bonds.
The issuance is part of the company’s strategy to diversify its funding sources, allowing it to leverage its operations and strategic investments.
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