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Angola is planning a comeback to the offshore bond market after meeting with investors in the US, the Middle East, and the UK. It has a $864.4mn outstanding 9.5% bond due in November 2025. While Angola’s last public Eurobond was issued in April 2022, it recently made a bond offering tied to a $1bn loan from JPMorgan. These bonds are not considered part of Angola’s external debt, and if the sovereign defaults, JP Morgan has recourse on ~$2bn of bonds. A banker noted that the timing of the new issue has not yet been determined as yields “are still elevated”. A report adds that other African nations, including Kenya and Gabon have had to raise funds via bonds and private placements but at unfriendly yields, reflecting tough conditions for EM sovereigns trying to manage short-term liquidity. In this light, we have compiled a list of the highest yielding African sovereign dollar bonds maturing within ten years along with their current borrowing cost.