Cote d'Ivoires €1bn bond

摘要

Cote d'Ivoire has become the first sub-Saharan African country to tap the international debt markets in the Covid-19 era by issuing a €1bn eurobond with a yield of 5% in late November 2020. The transaction was five times oversub-scribed, according to the country's finance ministry, while the proceeds of the deal will be used to plug the 2020 budget deficit. The west African country's growth story, cou-pled with its relatively well handled public finances, have positioned it as a darling for global investors in recent years. The govern-ment has been pursuing a wide-reaching reform agenda, under which it is hoping to stimulate private sector growth and employment opportunities for the rapidly growing population.