Bonds
Benin’s Plan to Sell $750 Million of Bonds Faces Narrowing Window
- Average yield on African dollar bonds has risen since December
- Benin would be first issuer on the continent this year
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The window of opportunity for Benin to offer $750 million of bonds is narrowing as yields approach levels that three years ago forced African borrowers to put their financing plans on hold.
Benin’s government began marketing the debt last week. A Finance Ministry official said on Monday that the sale would take place when market conditions are right.