After an almost two-year lull, sub-Saharan African issuers are clawing their way back into international markets. In close succession, C?te d’Ivoire, Benin, and Kenya issued $4.85 billion worth of Eurobonds in the first quarter of 2024. The bond offerings were as much as six times oversubscribed, in a sign that investor demand for riskier frontier market debt is back. Still financing conditions remain rough: Borrowing costs are high and the three issuers—C?te d’Ivoire, Benin, and Kenya—are ...