{"id":66936,"date":"2026-02-20T11:18:43","date_gmt":"2026-02-20T11:18:43","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-nations-rush-to-sell-dollar-bonds-as-costs-drop"},"modified":"2026-02-20T11:47:49","modified_gmt":"2026-02-20T11:47:49","slug":"african-nations-rush-to-sell-dollar-bonds-as-costs-drop","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/african-nations-rush-to-sell-dollar-bonds-as-costs-drop","title":{"rendered":"African nations rush to sell dollar bonds as costs drop"},"content":{"rendered":"<p><span class=\"ap-article-header-tag\"> <strong>Africa-Press &#8211; Lesotho. <\/strong> <\/span>The Democratic Republic of Congo is planning its maiden sale, while the Republic of Congo this month sold new notes \u2014 maturing in 2035 \u2014 at a yield of 11.625%, compared with 13.7% when it issued $930m of debt in November.<\/p>\n<p>Kenya and Ivory Coast are the latest African nations to return to the international bond market, seeking to take advantage of lower borrowing costs and a risk-on sentiment to raise funds.<\/p>\n<p>Kenya, which had its credit rating raised by Moody\u2019s Ratings in January, will sell new debt and buy back eurobonds due in 2032 and 2028, according to a statement. Ivory Coast also plans to sell dollar bonds, according to people familiar with the matter, who asked not to be identified because the details aren\u2019t public.<\/p>\n<p>African nations \u2014 from Cameroon to Kenya \u2014 are rushing to sell foreign-currency debt as a drop in borrowing costs has made additional financing attractive for sovereigns, with emerging-market bond spreads narrowing relative to US Treasuries. Kenya issued two other eurobonds last year.<\/p>\n<p>The announcement is part of the \u201cproactive management of Kenya\u2019s external indebtedness\u201d with an aim to \u201csmooth out the maturity profile,\u201d the government said in the statement on Wednesday.<\/p>\n<p>The Democratic Republic of Congo is planning its maiden sale, while the Republic of Congo this month sold new notes \u2014 maturing in 2035 \u2014 at a yield of 11.625%, compared with 13.7% when it issued $930 million of debt in November.<\/p>\n<p>The yield on Kenya\u2019s 2028 debt dropped 17 basis points to 6% by 2:45 p.m. in the capital, Nairobi. The rate on its loans due in 2032 fell seven basis points to 7.09%, according to data compiled by Bloomberg.<\/p>\n<p>Ivory Coast\u2019s sale may be about $1.5 billion this year, with around $1 billion of repayments due, according to a note issued Tuesday by Morgan Stanley.<\/p>\n<p>Kenyan authorities announced plans for a eurobond in the range of $1.5 billion to $2 billion and Treasury Secretary John Mbadi said earlier this month that current global market conditions are ideal for issuance.<\/p>\n<p>Kenya\u2019s plans to use proceeds from a debt-for-food security swap to make early repayments on selected eurobonds could raise about $1 billion via a new US DFC-guaranteed instrument.<\/p>\n<p>Proceeds will help repay higher-coupon bonds maturing from 2031, lowering refinancing risks and interest costs for Kenya, according to Morgan Stanley.<\/p>\n<p>\u201cThis should be constructive for the curve by reducing overall amounts outstanding,\u201d it said.<\/p>\n<p><b>Source:<\/b> Bloomberg<\/p>\n<p class=\"ap-article-footer-note\">Find more news and analyses on <span class=\"ap-highlight-country\">Lesotho<\/span> on the <span class=\"ap-highlight-brand\">Africa Press<\/span> website<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Lesotho. The Democratic Republic of Congo is planning its maiden sale, while the Republic of Congo this month sold new notes \u2014 maturing in 2035 \u2014 at a yield of 11.625%, compared with 13.7% when it issued $930m of debt in November. Kenya and Ivory Coast are the latest African nations to return [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":66935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[245],"class_list":["post-66936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-lesotho"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>African nations rush to sell dollar bonds as costs drop - Lesotho<\/title>\n<meta name=\"description\" content=\"-article-header-tag&quot;&gt; Africa-Press - Lesotho. 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