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Bond Market News
Angola Reaches Agreement with to Roll Over $1bn Loan; Secures Additional $500mn Financing
January 15, 2026
Angola has successfully reached an agreement with JPMorgan Chase to roll over a $1bn loan by three years, while additionally securing another $500mn in financing. The new 3Y loan carries an interest rate of about 8%, a significant improvement from the previous loan facility’s ~9% rate. This favorable refinancing comes amid a broader decline in Angola’s borrowing costs. The original $1bn deal was structured as a total return swap backed by nearly $2bn in dollar bonds. While the IMF projects Angola’s debt-to-GDP ratio to rise slightly to 63.2% this year, the government is aiming to leverage upon the lower market rates to negotiate better terms and maintain liquidity. The nation recently returned to international markets in October 2025 with a $1.75bn dollar bond issuance, amid improved investor sentiment.
Angola’s 8.75% 2032s are trading stable at 97.7, yielding 9.3%.
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