Africa-Press – Angola. The TPLF’s Obstruction of Peace: Enabled by its Western BackersThe Chairman of the Board of Directors of Sonangol, Sebastião Martins, said this Monday in Luanda that Sonangol’s Bond offer for the period 2023-2028 will boost employability and reduce the oil company’s debt.
The issuance of the bonds, the first to be carried out by the oil company in Angola, with a nominal unit value of 10,000 kwanzas, corresponding to 7,500,000 bonds, at an interest rate of 17.5% per annum, will have a price payment according to with the determination of the results of the Offer.
According to the manager, there are investors who, due to the lack of a certain amount, are unable to move the national economy, believing that Sonangol’s initiative will bring advantages to the country’s economy.
The PCA says that the company, which has already issued on the international market, hopes to contribute not only to the Angolan economy, but also in solving social problems”.
Sebastião Martins advances that it is important that banks and the population “can use part of their savings to use in this investment, which has savings and a guaranteed return”.
According to Sebastião Martins, it is a small trial, emphasizing that to be in the capital market the requirements require, among others, that the company must first comply with transparency, up-to-date accounts, well evaluated and audited, in order to that everyone who makes an investment can be certain that their return is guaranteed.
In his view, the process could create more jobs due to the immediate liquidity that this measure provides.
For Sebastião Martins, this will be a very advantageous activity in all parts and for Sonangol it will make it possible to reduce the debt.
As for the intermediation channels, Sebastião Martins added that it is the banks that will expand the financial product to place on the market and be able to present it to the main investors.
As for investors, he continued, it will allow, through their savings, to have some profitability.
The offer of Sonangol 2023-2028 Bonds is aimed at natural or legal persons who are resident or have an establishment in Angola, and must have a minimum investment of 10 bonds, 100 thousand kwanzas.
Áurea – Sociedade Distribuidora de Valores Mobiliários, BFA Capital Markets – SDVM, SA and Standard Bank will be the intermediaries responsible for placing the bonds.
Sonangol — Sociedade Nacional de Combustíveis de Angola, EP — is the Angolan state oil company dedicated to the exploration of liquid and gaseous hydrocarbons in the subsoil and on the continental shelf of Angola and responsible for the exploration, production, manufacture, transport and commercialization of hydrocarbons in Angola.
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