Luanda - The Angolan Securities Exchange (BODIVA) approved Friday, in the Province of Luanda, the request to hold a special session in the Luanda-based Bourse, aiming to trade Angola´s oil company Sonangol 's private bonds, totalling at least 75 billion kwanzas.
According to a note of the institution that ANGOP has had access to, the mentioned special session is scheduled for 13th September, this year. The results of the bids are to be made public in the the same day on the BODIVA web page.
BODIVA´s note states also that after the physical and financial settlement of the offer, on 15 September it is scheduled a “Ring the Bell” trading session which will mark the admission and live trading of Sonangol's private bonds on the Private Bond Market (PBEM).
For BODIVA, this bond issue represents a significant milestone in the development of the Angolan capital market, in that it opens up the possibility of diversifying the sources of funding for a leading national company, as well as providing the market with a financial product to diversify the investment portfolio and allowing financial intermediaries to assist in public offerings.
It should be noted that the results and admission to trading follow the public subscription offer, which will run from 28 August to 12 September, under the terms stated in the prospectus.
Debt issue
The bond issue of 75 billion kwanzas will be at a unit price of 10,000 kwanzas, corresponding to 7,500,000 bonds, at an interest rate of 17.5% per year.
The 2023-2028 Sonangol Bonds offer is aimed at individuals or legal entities who are resident or have a place of business in Angola.
Banco Fomento Angola (BFA bank), Standard Bank and Áurea - Securities Distribution Company will be the intermediaries responsible for placing the bonds.
The issue is part of the company's strategy to diversify its sources of funding, allowing it to leverage its operations and strategic investments.
NE/MRA/jmc
