Benin’s debut in the USD bond market was highly successful, with demand exceeding the offering by over six times, signaling strong investor interest in emerging-market assets. The country sold USD 750 mln of the 14-year bonds at an 8.375% yield, matching Ivory Coast’s rate for its 2037 notes. Benin, rated B+ by Fitch Ratings, saw a significant interest with USD 5 bln in demand. The yield on Benin’s EUR-denominated notes due 2032 and its 2035 social bond, the first in Africa, also saw notable declines.