South Africa Joins Bond Rush With $3.5 Billion Debt Sale

South Africa sold dollar-denominated bonds for the first time in a year, joining other African issuers taking advantage of lower borrowing costs.

Africa’s most industrialized economy priced $1.75 billion each of 12- and 30-year bonds at respective yields of 6.25% and 7.375%, according to a person familiar with the matter who asked not to be identified as they’re not authorized to speak publicly. They compare with yields of 7.1% and 7.95% on the same-tenored notes issued in November 2024.