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Cameroon hopes to break Chinese debt logjam with eurobond sale

By David Whitehouse
Posted on Monday, 24 May 2021 11:16

President of Cameroon Paul Biya at The Great Hall Of The People in Beijing, China 22 March 2018. Lintao Zhang/Pool via Reuters

Cameroon is likely to seek a sale of eurobonds in the coming weeks as part of a strategy to avoid a Zambia-style standoff between Western and Chinese creditors.

The country’s treasury said in April that it is in talks with Rothschild & Co. to advise on a eurobond sale in the first half of this year. The bond sale is likely to be combined with a full or partial tender offer for the existing $750m 2025 bond to extend the maturity of its debts, according to research from Mark Bohlund, a senior credit research analyst at REDD Intelligence in London.