From Bloomberg
Angola, Africa’s second-biggest oil producer, plans to sell two 20-year bonds to raise 58.7 billion kwanza ($601 million) to strengthen the central bank and a state-owned lender, according to presidential decrees.
Dates for the debt issues weren’t included in orders from President Jose Eduardo dos Santos that were listed in a government gazette this month. Amilcar Xavier, a spokesman for the Finance Ministry in the capital, Luanda, said by phone yesterday he couldn’t immediately respond to e-mailed questions seeking comment.
Finance Minister Armando Manuel can issue 20-year Treasury bonds valued at 31.29 billion kwanzas to allow the National Bank of Angola to meet its capital needs and fund monetary policy operations, according a decree dated Jan. 10. Manuel may also issue debt due in two decades worth 27.44 billion kwanzas to bolster the capital levels and increase the lending capacity of Banco de Desenvolvimento de Angola, which funds development projects such as roads, rail and power, a Jan. 9 decree shows.
Written by Colin McClelland/Read more at Bloomberg