Ivory Coast raises new $1.75 billion Eurobond

Ivory Coast just raised USD 1.75 billion (around FCFA 1,050 billion) on the international markets through an 11-year Eurobond issue maturing in 2036.

The transaction, finalised on March 25th 2025, achieved a yield of 8.45% and 6.45% after currency swaps, down 15 basis points on the previous issue in January 2024 (6.60%), according to sources close to the deal.

The issue was more than three times oversubscribed, with an order book of USD 5.2 billion, according to sources close to the deal.
Ultimately, nearly 180 institutional investors took part in the transaction, which was completed in a single day. The issue was structured with a euro-dollar currency barrier, an option that limits the country’s exposure to currency risk.

This fundraising comes a year after Ivory Coast became, in 2024, the first African country to return to the international markets, following a two-year absence from the continent’s issuers. At that time, Abidjan raised $2.6 billion, the largest bond issue in its history.

source: agence ecofin