![](https://2c717466dc25cd7041c9-8eeda6a8ca964cf210ed223dbc947813.ssl.cf2.rackcdn.com/22482824-785875440--100x53.jpeg)
Gabon's PP looks tough, but it was justified
Gabon achieved an unwanted record this week. Priced this week at a yield of 12.7%, its private placement was the most expensive benchmark-sized bond from an African sovereign in history. But the trade served a purpose for an issuer that had little room to …