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Funding issuanceAngolaVerified brief

Angola issues $1.5bn of long-dated Eurobonds and completes $750m buyback to extend maturities

On 21–28 May 2026 Angola issued US$1.5bn of new Eurobonds (maturing 2031 and 2037) and completed a US$750m tender offer to partially buy back 2028 and 2029 notes, lengthening its external debt profile and reducing near-term rollover obligations.

MSA Market DeskEvent 28 May 2026Reviewed 1 min read

The desk brief

On 21–28 May 2026 Angola issued US$1.5bn of new Eurobonds (maturing 2031 and 2037) and completed a US$750m tender offer to partially buy back 2028 and 2029 notes, lengthening its external debt profile and reducing near-term rollover obligations.

By replacing some 2028/2029 obligations with newly issued 2031 and 2037 bonds, the operation lowers the concentration of repayments in the late 2020s and eases immediate refinancing needs. This reduces near-term rollover risk for Angola but may raise average funding costs given higher yields on the longer-dated paper; the move also creates a longer-dated reference for regional USD sovereign credit pricing.

Monitor secondary-market pricing and uptake of the 2031/2037 tranches and any follow-up liability-management communication from Minfin.

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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
11.32%10.05%8.77%7.49%6.22%20282033203920442049Angola 28 · May 2028 · 6.894%Angola 29 · Nov 2029 · 8.113%Angola 31 · Jan 2031 · 8.857%Angola 32 · Apr 2032 · 9.298%Angola 33 · Mar 2033 · 9.678%Angola 35 · Oct 2035 · 9.906%Angola 37 · Mar 2037 · 10.168%Angola 48 · May 2048 · 10.598%Angola 49 · Nov 2049 · 10.646%
Move across the curve to inspect a bondAs of
BondMid pxYield
  • Angola 28May 2028101.9386.894%
  • Angola 29Nov 202999.6888.113%
  • Angola 31Jan 2031101.3138.857%
  • Angola 32Apr 203297.6889.298%
  • Angola 33Mar 203398.5639.678%
  • Angola 35Oct 203599.8139.906%
  • Angola 37Mar 203798.12510.168%
  • Angola 48May 204889.68810.598%
  • Angola 49Nov 204987.00010.646%

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

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