ABIDJAN May 3 Ivory Coast has chosen five
international banks to manage a Eurobond issue planned for the
second quarter of this year, two banking sources familiar with
the deal said on Wednesday.
The sources did not name the banks involved and it was not
initially clear what amount Ivory Coast was targeting for the
deal. It last went to international markets in February 2015
with a $1 billion bond that matures in March 2028.
Government officials were not immediately available for
Ivory Coast, the world's top cocoa exporter, has emerged
from a decade-long political crisis, capped by a 2011 civil war,
as Africa's fastest-growing economy, drawing the interest of
The West African nation is rated Ba3 by Moody's and B+ by
Fitch, both with stable outlooks. However, it has been hit hard
by a steep decline in cocoa futures in New York and London.
The government was forced to slash 2017 budget spending by
around 10 percent last month, and it also faces demands for
bonus payments by soldiers and pressure to pay back-wages to
(Reporting by Joe Bavier and Sudip Roy; Editing by Matthew
Mpoke Bigg and Mark Trevelyan)