On January 22, 2026, the Republic of Benin issued its inaugural $500 million international sovereign Sukuk with a 7‑year maturity, becoming the first African state to access this instrument on global markets. Fully hedged from dollar to euro, the Sukuk carries a 4.92 % euro coupon as part of a larger $850 million financing package including a $350 million 2038 Eurobond re‑opening. Investor demand exceeded $7 billion, more than eight times the amount issued. The funds will help cover key 2026 budget financing needs and strengthen the country’s public debt profile.
