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Funding issuanceAngolaDeveloping story

Angola prices dual-tranche USD Eurobond totalling $1.75bn, re-enters international market

On 7–8 October 2025 Angola returned to international markets, pricing two US-dollar Eurobond tranches totalling US$1.75 billion (five- and ten-year maturities) at roughly 9.25–10.125% to refinance near-term external amortisation and restore a long-dated SSA hard-currency reference.

MSA Market DeskEvent 7 October 2025Reviewed 1 min read

The desk brief

On 7–8 October 2025 Angola returned to international markets, pricing two US-dollar Eurobond tranches totalling US$1.75 billion (five- and ten-year maturities) at roughly 9.25–10.125% to refinance near-term external amortisation and restore a long-dated SSA hard-currency reference.

The priced issuance supplies hard-currency liquidity to cover an $864m bond due in November and smooths Angola’s external amortisation profile. The new five- and ten-year reference points will act as pricing anchors for Angolan USD paper and related oil-exporter SSA credits; secondary acceptance will dictate how much longer-dated Angolan and peer bonds reprice versus US Treasuries and existing spread levels.

Secondary-market reception across Angola’s new 5y and 10y lines and rollover decision on a $1bn total-return swap expiring December.

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Developing story

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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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