ListingsData
Republic of Congo lists $1.55bn sovereign notes on Nasdaq Dubai
Two tranches of 9.500 percent amortizing notes due 2035 and 2036 mark the first African sovereign listing on the exchange.
The Republic of Congo completed a secondary listing of $1.55 billion in sovereign amortizing notes on Nasdaq Dubai on 19 October 2026, becoming the first African sovereign issuer to list securities on the exchange. The listing comprises two tranches: $700 million 9.500 percent notes maturing 17 February 2035 and $850 million 9.500 percent notes maturing 26 May 2036. Both instruments were initially listed on the London Stock Exchange.
Republic of Congo listing structure and terms#
The $700 million tranche carries a 9.500 percent coupon and matures on 17 February 2035. The $850 million tranche also carries a 9.500 percent coupon and matures on 26 May 2036. Both are structured as amortizing notes. The secondary listing on Nasdaq Dubai complements the primary listing on the London Stock Exchange. Christian Yoka, Minister of Finance, Budget and Public Portfolio of the Republic of Congo, rang the market opening bell at Nasdaq Dubai on 19 October 2026 to mark the listing.
Nasdaq Dubai sovereign debt outstanding#
Nasdaq Dubai's total outstanding debt listings now exceed $147.5 billion, with sovereign issuances accounting for 43 percent of the total. The Republic of Congo listing adds $1.55 billion to that figure. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, attended the listing ceremony alongside Mark Steward, Chief Executive of Dubai Financial Services Authority. The exchange has not previously hosted an African sovereign issuer.
IMF programme and investor access#
Talks between the IMF and the Republic of Congo on a new lending program are set to continue in the coming weeks, with both sides aiming to reach a staff-level agreement. The secondary listing expands the Republic of Congo's visibility among institutional investors, banks and corporates based in the Middle East. The move follows a Comprehensive Economic Partnership Agreement between the United Arab Emirates and the Republic of Congo. The listing was announced on 19 October 2026.
Sources2 sources across 2 domains
- economymiddleeast.comEconomy Middle EastRepublic of Congo listed $1.55 billion in sovereign notes on Nasdaq Dubai on 19 October 2026, comprising $700 million 9.500% notes due 2035 and $850 million 9.500% notes due 2036
- bloomberg.comBloombergRepublic of Congo pursued secondary listing for eurobonds on Nasdaq Dubai, marking first listing in GCC for African sovereign; IMF talks ongoing
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