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| Republic of Rwanda’s $400 million Eurobond | |
| Lead managers | BNP Paribas, Citi |
| return to the Deals of the Year 2013 index | |
In 2010, with questions surrounding how Rwanda could fund costly, large-scale projects including a convention centre and national carrier RwandAir, policymakers were forced to look for innovative ways to raise cash.
As members of the ministry of finance sought advice from international commercial banks, BNP Paribas came up with a surprising suggestion: to issue a Eurobond.
“We had seen growth in demand for prime African sovereigns in the two years preceding the issue,” says Nick Darrant, head of Ceemea syndicate at BNP Paribas based in London, who worked on the deal.
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