February 10, 2025 13:29 GMT
EM CEEMEA CREDIT: GABON: Tender and New Issue
EM CEEMEA CREDIT
Gabon (Caa2/-/CCC)
Tender and new issue
- Gabon’s remaining USD315m 6.95 25 bonds seem to be trading up 1.25pts post the tender announcement, and close to the 100-tender price. Originally USD700mm was issued but Gabon tendered for bonds in Nov 24.
- Concurrently, the republic also plans to issue via a private placement USD bond to pay for the refinance. Terms and details of the new private placement have not been announced but is conditional on tender of the old bonds. Settlement of the tender is 19th Feb.
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