South Africa joins emerging markets wave of sovereign bond sales

Jacob Zuma, President of South Africa

South Africa is preparing its first sale of debt this year as global investors including BlackRock and Pimco declare that emerging markets represent a buying opportunity after three years of underperformance.

The country announced on Thursday it had hired Deutsche Bank and Investec to organise meetings with bond investors in London, Boston and New York and discuss their options for a debt sale.

In recent weeks, Russia, Argentina and Turkey have also made plans to sell sovereign paper as broad market sentiment has recovered after a torrid start to the year.

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