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◆ Running a bond business in a crisis ◆ Bank issuers find their way back into the bond market ◆ Can frontier emerging market sovereigns fund themselves?
Markets may not be shut for too long, and African sovereigns have managed debt well
Sovereign pays at least 25bp of concession but points to healthy demand after broader spread widening
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Decision on the refi will be made in first half of 2025 but new Eurobonds are 'unlikely'
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