JOHANNESBURG (Reuters) – Gabon moved forward with Africa’s first debt-for-nature swap on Tuesday in a deal that saw the country buy back a nominal $500 million of its international debt and price an equal size eco-friendly blue amortizing bond that will mature 2038.
Buying bonds back at a discount, the total amount Gabon accepted in stood at $436 million – close to its maximum of $450 million, with investors offering up more than $1.1 billion, according to the notice published on the London Stock Exchange.
(Reporting by Rachel Savage, Editing by Karin Strohecker)
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