Energy Markets
Angola will decide by November on $1 billion JPMorgan deal, says finance official
Angola's senior debt official said that the country will decide in November whether it wants to extend its $1 billion total-return swap agreement with JPMorgan or raise money through international capital markets. JPMorgan and Angola signed a derivative contract worth $1 billion for a year, known as a Total Return Swap, backed up by $1.9 billion of government dollar bonds. The contract will expire this year. Dorivaldo Téixeira, Director General of the Public Debt Management Unit of Angola's Finance Ministry, said on the sidelines investor meetings in London, "We have options." Angola, if the market conditions are right, could issue...