DAKAR, Jan 22 — Benin has issued $500 million in seven-year Islamic bonds, seeking resilient financing amid shifting global markets.
The sukuk carries a 4.92% coupon after a full dollar–euro hedge, offering investors stability wrapped in careful fiscal design.
The government also reopened its 2038 Eurobond, raising an additional $350 million equivalent at a 6.19% coupon.
Both transactions were fully hedged, reducing currency risk as Benin stretches its borrowing horizon with measured confidence.
Demand proved exceptionally strong, with combined orders topping $7 billion after years of marketing across the Gulf, Europe, Asia and America.
Officials said the response reflected investor appetite for Benin’s story, a small economy pitching discipline and promise.
The funds will cover a significant share of 2026 budget needs while improving the maturity profile of public debt.
For Benin, the deals mark a quiet milestone, blending finance and foresight as the nation writes its next chapter.