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Funding issuanceAngolaDeveloping story

Angola prices second 2026 Eurobond, raising US$1.5bn in two-tranche sale

On May 21, 2026, Angola priced a second 2026 Eurobond, issuing US$1.5 billion in two tranches maturing in 2031 and 2037 (coupon 8.25% and 9.5%). The offering drew roughly US$4.0 billion of demand and was presented as an integrated liability-management operation including buybacks of existing Eurobonds.

MSA Market DeskEvent 21 May 2026Reviewed 2 min read

The desk brief

On May 21, 2026, Angola priced a second 2026 Eurobond, issuing US$1.5 billion in two tranches maturing in 2031 and 2037 (coupon 8.25% and 9.5%). The offering drew roughly US$4.0 billion of demand and was presented as an integrated liability-management operation including buybacks of existing Eurobonds.

The deal increases Angola's USD external liquidity and smooths near-term refinancing by extending maturities through 2031 and 2037. A well-subscribed sovereign sale at these coupons can serve as a regional hard-currency pricing reference, potentially compressing spreads for other commodity-linked African issuers if investors treat Angola as a benchmark and demand for emerging-market USD paper remains supportive.

Secondary trading/liquidity in the new 2031/2037 bonds and any formal reporting on use of proceeds or completed buybacks within weeks.

Sources & verification

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
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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