Angola to Use $500 Million of Eurobond Proceeds for Debt Buyback

WATCH: “We will continue exploring opportunities,” Angolan Finance Minister Vera Daves de Sousa said when asked about the potential for further eurobond sales. She was interviewed by Bloomberg’s Jennifer Zabasajja.Source: Bloomberg

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By Jennifer Zabasajja and Henrique Almeida

March 27, 2026 at 2:09 PM UTC

Angola will use a fifth of the funds raised in a eurobond sale this week to buy back debt maturing in 2028, with the remainder to be allocated to government spending, Finance Minister Vera Daves de Sousa said.

The oil-producing southwest African nation sold $2.5 billion of dollar bonds on March 24, after attracting bids for more than double that amount. The authorities will use $500 million of the total to repurchase a portion of Angola’s $1.75 billion of 8.25% notes due in 2028.