Angola has raised $2.5 billion through a new Eurobond issuance, according to State Minister for Economic Coordination José de Lima Massano, who announced the development on Wednesday.
The bond sale was split into two parts. The first tranche, valued at $1.5 billion, comes with a 9.25% interest rate and will mature in seven years.
The second tranche totals $1 billion, carrying a 9.8% interest rate with an 11-year maturity, Ecofin Agency reported.
Speaking after a cabinet meeting, Massano described the rates secured as “very advantageous,” noting they were lower than those from previous issuances despite a challenging global environment shaped by ongoing conflict in the Middle East.
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As an oil-exporting nation, Angola benefited from rising energy prices linked to tensions involving Iran. Concerns over supply disruptions, particularly around the Strait of Hormuz, have driven crude oil prices above $100 per barrel in recent weeks. Massano also highlighted strong investor interest in the bond offering.
“We went to market with the aim of raising $2 billion, but demand reached around $5.2 billion, and we ultimately raised $2.5 billion,” he said, describing the deal as “historic” and pointing to “strong confidence from international investors in Angola’s economic progress.”
According to Massano, the funds will be used to support the country’s 2026 state budget and to settle urgent arrears owed to public service providers.
Angola last accessed international bond markets in October 2025, raising $1.75 billion, with part of that amount used to repay bonds that matured in November 2025.
The country’s long-term foreign currency debt is currently rated “B-” with a stable outlook by S&P Global Ratings.
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Image Credit: Shore Africa
