Luanda - The Chairman of the Board of Directors of Sonangol, Sebastião Martins, said on Monday in Luanda, that the offer of Sonangol Bonds for 2023-2028 will boost employability and reduce the debt of the oil company.
The issuance of the bonds, the first to be made by the oil company in Angola, in the nominal unit value of 10 thousand kwanzas, corresponding to 7,500,000 bonds, at an interest rate of 17.5% per year, will have a payment of the price according to the calculation of the results of the Offer.
According to the manager, there are investors who for lack of a certain amount cannot move the national economy, believing that the Sonangol initiative will bring advantages in the country's economy.
The PCA says that the company, which has already issued bonds in the international market, hopes to contribute not only to the Angolan economy, but also in solving social problems.'
Sebastião Martins says it is important that banks and the population “can use part of their savings to use in this investment, which has a savings and a guaranteed return”.
According to Sebastião Martins, it is a small test balloon, stressing that to be in the capital market the requirements require, among others, that the company must first comply with transparency, up-to-date accounts, well evaluated and audited, so that all those who make investments are sure that their return is guaranteed.
In its view, the process could create more jobs depending on the immediate liquidity that this measure provides.
For Sebastião Martins, this will be a very advantageous activity everywhere and for Sonangol it will make it possible to reduce the debt.
As for the intermediation channels, Sebastião Martins said that it is the banks that will expand the financial product to put on the market and be able to present to the main investors.
For investors, he continued, it will allow, through their savings, to have some profitability.
The offer of Sonangol Bonds 2023-2028 is intended for natural or legal persons who are resident or have an establishment in Angola, and must have a minimum investment of 10 bonds, 100 thousand kwanzas.
Áurea - Securities Distribution Company, BFA Capital Markets – SDVM, S.A. and Standard Bank will be the intermediaries responsible for placing the bonds.
Sonangol — Angola’s National Oil Company — is a state-owned oil company dedicated to the exploration of liquid and gaseous hydrocarbons from Angola’s onshore and offshore and it is responsible for production, manufacture, transport and marketing of petroleum related products in the country.
HEM/VM/DOJ
