Cameroon became the second sub-Saharan African sovereign to tap the bond market this month, but unlike recent trades, the deal was not a blowout as tumbling secondary prices in the region took their toll. The Central African sovereign, rated B by S&P and Fitch, printed a debut US$750m 10-year amortiser at 9.75% on Thursday. That was the wide end of 9.625%-9.75% guidance but in line with initial price thoughts of 9.75% area. "They had aspirations of US$750m," said a source close to the trade. "It was clear after Angola's print that it was not going to be a super-large deal because Angola traded heavily."
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