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Angola to roll over $1 billion JP Morgan debt facility, finance ministry says
12:58 CAT | 26 Nov 2025
FILE - A J.P. Morgan logo is seen outside the JPMorgan bank offices in Paris, France, January 27, 2023. [File photo: Reuters/Sarah Meyssonnier]
Angola will roll over a $1 billion debt facility with JPMorgan that is close to maturity, a senior official at the Finance Ministry told Reuters on Tuesday.
The southern African nation will seek to lower the interest rate of the facility when it is rolled over, the official said without providing further detail.
The original rate was not disclosed but the finance ministry said in May it was just below 9%.
Angola and JPMorgan agreed to a $1 billion, one-year derivative contract known as a total return swap almost a year ago, backed by $1.9 billion in Angolan government dollar bonds.
The bank demanded $200 million in additional security in April after the value of the bonds put up as collateral weakened when the United States imposed steep tariffs on the country.
The bonds recovered and the government got additional security back. The bond was quoted at 99.8 cents on the Dollar on Tuesday, market participants said.
Source: Reuters
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