Fed Cut May Spur Nigeria, Angola Eurobond Sales, BancTrust Says

The Federal Reserve’s half-percentage-point interest-rate cut may pave the way for new debt issuance by African nations including Nigeria and Angola, according to BancTrust & Co.

This bigger than expected easing in US monetary policy will “likely drive market yields lower in the sub-Saharan Africa space, which would increase the attractiveness of the international capital market for issuers,” the London-based investment bank said in a research note on Wednesday.