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Funding issuanceAngolaDeveloping story

Angola completes $750m buyback of 2028/2029 bonds and issues $1.5bn of 2031/2037 notes

On May 28–29, 2026 Angola completed a liability-management package: it bought back $749,999,533 of 2028 and 2029 Eurobonds (settlement May 29, 2026) and issued $1.5 billion of longer-dated notes consolidated into 2031 and 2037 series, priced at 9.244% and 9.875%.

MSA Market DeskEvent 29 May 2026Reviewed 1 min read

The desk brief

On May 28–29, 2026 Angola completed a liability-management package: it bought back $749,999,533 of 2028 and 2029 Eurobonds (settlement May 29, 2026) and issued $1.5 billion of longer-dated notes consolidated into 2031 and 2037 series, priced at 9.244% and 9.875%.

By replacing near-term maturities with $1.5bn of longer-dated paper, Angola materially reduces rollover pressure in 2028–2029 and creates longer-dated sovereign benchmarks. Conditional on secondary-market liquidity and investor demand, this can compress belly spreads relative to remaining near-term bonds while lengthening the sovereign duration profile and shifting refinancing risk to later vintages.

Monitor secondary-market trading and spread moves between outstanding 2028/2029 paper and new 2031/2037 issues over the next month.

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Developing story

Further independent confirmation is required.

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Price Discovery

Angola sovereign curve

Latest server-calculated mid yield by maturity. Points are observed Price Discovery levels, not an interpolated valuation curve.

9 priced bonds
10.91%9.69%8.46%7.24%6.01%20282033203920442049Angola 28 · May 2028 · 6.659%Angola 29 · Nov 2029 · 7.717%Angola 31 · Jan 2031 · 8.410%Angola 32 · Apr 2032 · 8.851%Angola 33 · Mar 2033 · 9.227%Angola 35 · Oct 2035 · 9.546%Angola 37 · Mar 2037 · 9.814%Angola 48 · May 2048 · 10.212%Angola 49 · Nov 2049 · 10.263%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Angola 28May 2028102.2506.659%
  • Angola 29Nov 2029100.7507.717%
  • Angola 31Jan 2031102.8758.410%
  • Angola 32Apr 203299.5638.851%
  • Angola 33Mar 2033100.6889.227%
  • Angola 35Oct 2035101.9389.546%
  • Angola 37Mar 2037100.3759.814%
  • Angola 48May 204892.75010.212%
  • Angola 49Nov 204990.00010.263%

Indicative levels only. Full bid/ask context and trading actions remain inside MSA Trader.

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