Angola: Sonangol Launches Bonds Worth 75 Billion Kwanzas

13 August 2023
Angola Press Agency (Luanda)

Luanda — The national oil company, Sonangol is launching today (Monday) the first issue of bonds, worth 75 billion kwanzas, through a public subscription offer.

The announcement by the national oil company, which ANGOP had access to, mentions that the bond debt of 75 billion kwanzas will be at a unit price of 10,000 kwanzas, corresponding to 7,500,000 bonds, at an interest rate of 17.5% per year.

The offer of Sonangol Bonds 2023-2028 is intended for natural or legal persons who are resident or have established business in Angola.

Banco Fomento Angola (BFA), Standard Bank and Áurea - Securities Distribution Company will be the intermediaries responsible for placing the bonds.

According to the note, this bond issuance is part of the company's strategy to diversify its funding sources, allowing it to leverage its operations and strategic investments.

Sonangol's vision is to become a benchmark company on the African continent, committed to the country's sustainability and development.

NE/DOJ

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