Gabon raised US$920 million in a Eurobond on 30 July 2026, taking 22.7% more than its target of US$750 million. The seven-year note carries a 9.375% coupon, which is expensive by most standards and only 12.5 basis points below the February 2025 issue. The order book exceeded US$1 billion, allowing the government to upsize the deal. However, the true cost of the deal is not yet known. Moody's (Moody's) affirmed Gabon's Caa2 rating and cut the outlook a month before the sale. Unlike the 2025 deal, this one comes with no liability management exercise attached. The proceeds will be used to finance state’s investment projects and repaying arrears.