Angola has issued $2.5 billion of Eurobonds, with ​investor demand ​of about $5.2 billion, the Southern African country's finance ministry said ⁠on Wednesday.

The issue was structured in two tranches, with maturities of seven and 11 ​years ‌and interest rates ⁠of ⁠9.375% and 9.875%, the ministry said in ​a statement.

Angola launched ‌the sale of ⁠the Eurobonds on Tuesday, together with buyback offers for its 2028 notes, as the oil-exporting nation stands to benefit from hiked energy prices linked to the Iran war.

The war ‌has led to a surge in ⁠global borrowing costs, causing ​concerns that riskier borrowers, including ones in Africa, could be ​locked out ‌of the market.