Congo Republic Taps Eurobond Market Second Time in Three Months

Just three months after its inaugural eurobond sale, the Republic of Congo has returned to the market, seeking to take advantage of lower borrowing costs to buy back some of the debut issuance.

Congo sold the new notes — maturing in 2035 — at a yield of 11.625%, compared with 13.7% when it issued $930 million of debt in November. The new debt pays interest of 9.5%, compared with 9.875% for the November bonds.