Meanwhile, in Africa, the main story was not just about new funding sources, but also the arrival of new issuers, as investors turned optimistic about the continent’s success. First-time benchmark-sized Eurobonds by African sovereigns became a stamp of approval for these countries’ economic prospects, and will encourage further capital flows.
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| Republic of Namibia debut Eurobond | |
| Size | $500 million |
| Date | October 27 2011 |
| Lead managers | Barclays Capital, Absa Capital and Standard Bank |
| Coupon | 5.5% |
| Tenor | 10 years |
| return to the Middle East & Africa Deals of the Year index | |
In January 2011, Nigeria was the first African sovereign to issue a benchmark debut issue with a 10-year $500 million deal.
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