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Gabon raises $580 million in 8-year Eurobond with 9.375% coupon - REUTERS
JOHANNESBURG, Oct 15 (Reuters) – Gabon raised $580 million in a Eurobond with an 8-year maturity and a 9.375% coupon, and its order book was nearly double at close to $1 billion, the finance ministry said on Wednesday.
The risk premium was about 50 basis points lower than Gabon’s previous July issue despite rising US rates and a longer maturity, the ministry added. It was the country’s first public-offer format Eurobond since 2021.
Finance Minister Thierry Minko, who led the bond sale, is representing Gabon this week at the IMF and World Bank annual meetings in Bangkok, where bilateral meetings with financial institutions and investors are planned.
The bond issue comes as the Central African oil producer pursues an IMF-supported programme. An IMF staff team visited Libreville in September for technical discussions on the findings of a public debt audit and fiscal policy proposals for 2027. Gabon formally requested IMF support in March, and programme negotiations are being prepared.
