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Nasdaq Dubai admitted two Republic of the Congo government bonds with a combined value of US$1.55 billion to a secondary listing. In its 19 October announcement, the exchange said the move made Congo its first African sovereign issuer. One note is US$700 million, carries a 9.5% coupon and matures on 17 February 2035; the other is US$850 million, also with a 9.5% coupon, and matures on 26 May 2036.
The bonds were already listed on the London Stock Exchange. The Dubai listing is intended to increase their visibility and access among institutional investors in the Middle East. Nasdaq Dubai said its total outstanding debt listings exceeded US$147.5 billion, with sovereign issues accounting for 43%. This was a secondary listing of existing debt, not a new bond sale.


