Ivory Coast sends request for proposal for bond issue

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LONDON, May 22 (IFR) – Ivory Coast has sent a request for proposal to banks for an international bond issue, according to sources.

One of the sources said the sovereign is considering a euro-denominated offering.

Ivory Coast (Ba3/-/B+) became the first African borrower to issue 30-year bonds in euros when it sold a €850m 6.625% 2048 note in March 2018. That bond was paired with a €850m 5.25% 2030 bond.

The 2030s are yielding 6.04% on the bid side, according to Tradeweb prices, and the 2048s are bid at 7.18%. (Reporting by Sudip Roy and Robert Hogg, editing by Helene Durand)

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