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Capital Markets

Namibia debut Eurobond wins a Euromoney Deals of the Year 2011 award

The debut sovereign Eurobond from the Republic of Namibia, with lead managers Barclays Capital, Absa Capital and Standard Bank, perhaps best encapsulates the trend of sovereigns that were previously unknown to international markets now being able to grab investors’ attention.


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.


In January 2011, Nigeria was the first African sovereign to issue a benchmark debut issue with a 10-year $500 million deal. Senegal followed in May with a $500 million 10-year deal.


However, the debut sovereign Eurobond from the Republic of Namibia on October 27 perhaps best encapsulates the trend of sovereigns that were previously unknown to international markets now being able to grab investors’ attention.


Peter Baillargeon, director of debt capital markets at Standard Bank, joint bookrunner alongside Barclays Capital, says:



"Even if they were previously active in the African bond market, most investors in the bond would have had no reason in the past to consider Namibia. The fact this issue succeeded at a time of such extraordinary market volatility shows the serious attention Africa is getting among global investors."



For full details and the story behind this deal, click here 



- Euromoney Skew Blog


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