African sovereign debt issuance hits $12.80bn in 2018

African sovereign have now issued $12.80 billion of Eurobond in 2018 ahead of a United States (US) Federal Reserve rate hike as investors continue to hunt for attractive yields. Ivory Coast sold $2.1 billion of bonds maturing in 2030 with a yield of 5.25 percent and 6.625 percent due in 2048. Egypt raised $4 billion…