Ivory Coast Plans $1.2 Billion Sale of Eurobonds

Ivory Coast plans to sell the equivalent of as much as $1.2 billion of bonds as the nation seeks to lock in borrowing costs before further U.S. Federal Reserve rate increases, according to three people familiar with the matter.

While the country hasn’t yet appointed deal advisers, it wants to hold a roadshow for the sale of 850 million euros ($1 billion) to 1 billion euros of debt before the end of March, said two of the people, who asked not to be identified because the information isn’t public. Ivory Coast will sell dollar and euro securities, and is considering a third tranche denominated in the euro-pegged CFA franc that’s used in eight countries in West Africa, two of the people said.