Ivory Coast to sell $1bn in eurobonds to raise funds for infrastructure
Abidjan — Ivory Coast plans to sell at least $1bn in eurobonds by the end of July to raise funds for infrastructure projects, the country’s first issuance of international debt since 2015, according to two people with knowledge of the plans. The government is negotiating to sell bonds with 10-year maturity and the sale will probably happen in June or July, according to the people, who asked not to be identified because a public announcement hasn’t been made. The West African nation is yet to decide which banks will be hired as financial advisers and a road show will be held in London and the US, according to the sources. Ivory Coast sold $1bn of debt in 2015 and $750m in 2014. Government spokesman Bruno Koné said by phone that Ivory Coast plans to sell eurobonds this year but that he couldn’t confirm the details. The bond sale "is in our interest given the economic climate", he said, without elaborating further. Ivory Coast President Alassane Ouattara was forced to reduce this year’...
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