Africa
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Sovereign pays zero new issue premium as books for 10 year deal top $4.9bn -
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East African sovereign could print $1bn-$1.5bn, depending on demand for the tender
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African governments will consider this weekend setting up mutual support mechanism
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Gabon now has three years to get its house in order
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The country can now repay bonds due in June
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The country has suffered liquidity problems
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Boad's hybrid has a maturity date, unlike those from AfDB and AFC
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The development bank had to pause plans for the original trade in 2022
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Three high yield trades on Tuesday drew healthy demand
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Not long ago five year bonds yielded over 20% and investors were worried about debt distress
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Some have questioned why the issuer is running a tender for 2032 bonds alongside its new issue
