Angola extends $1 bln debt facility with JPMorgan for three years 

Angola has extended a one-year $1 billion debt facility with JPMorgan for three years and secured an extra $500 million in financing, its finance ministry said. 

Why it matters 

The new three-year contract carries an interest rate “within 8%”, the ministry told Reuters. The finance ministry said the rate on the original facility was just below 9%. Angola’s bond prices extended earlier gains after the news of the extension, with the 2048 maturity trading 1 cent higher at 86.97 cents on the dollar.