Angola wins award in Eurobonds issuance by international financial group GFC

South African country Angola has won an award in its second securities issuance activity in London dubbed "Operação Palanca 2" held last May in international financial markets, standing as the best sovereign issuance for 2018.

An international group specializing in financial information considered "Operation Lever 2", which designates the second issue of eurobonds - public debt securities in foreign currency - held by Angola during mid-2018 as the best sovereign issuance of 2018.

The award will be delivered in March 2019 at an event to be held in London, sponsored by GFC, an international group specialised in financial information.

The group will also grant the prize to other corporate issuances in financial institutions and project-finance from entities. They are Letshego Holding Ltd, ABSA Group, Enel Green Power, among others, according to a note from the Ministry of Finance.

The Operation Palanca 2 enabled the country to raise 3.5 billion dollars. The first tranche, with a maturity of 10 years and with a nominal value of 1,750 million dollars, was issued with a coupon interest rate fixed at 8.25 percent.

While, the second tranche, with a maturity of 30 years and a nominal value of 1,250 million dollars, was issued with a coupon interest rate fixed at 9.375 percent. Due to the high demand recorded in July, Angola used the prerogative to reopen this activity.

In a complementary manner, the country raised USD 520 million, registered in the portion whose maturity extends to 2048.

Angola's first securities issuance activity worth USD 1.5 billion in 2015.

With inputs from agency.