Gabon raises $580 million in 8-year Eurobond at 9.375%
By Aboki Forex —
Gabon has raised $580 million in an 8-year Eurobond with a 9.375% coupon. The finance ministry said on Wednesday, October 15, that the order book was nearly double at close to $1 billion.
The ministry said the risk premium was about 50 basis points lower than Gabon's previous July issue. That happened despite rising US rates and a longer maturity. The sale was Gabon's first public-offer format Eurobond since 2021.
Minko leads sale
Finance Minister Thierry Minko led the bond sale. He is representing Gabon this week at the IMF and World Bank annual meetings in Bangkok. Bilateral meetings with financial institutions and investors are planned there.
IMF programme talks
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. Programme negotiations are being prepared.
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