Riskier African state borrowers opt to stagger repayments on FX bonds

By Karin Strohecker LONDON (Reuters) - Sub-Saharan African countries are increasingly issuing hard-currency bonds with staggered rather than one-off repayments, seeking to minimise the risk that volatile commodity prices will play havoc with their finances. Governments across the continent - from oil-producing Nigeria to smaller, fast-growing economies such as Rwanda or Ethiopia - have taken advantage of rock-bottom global borrowing costs and investors' hunger for yield. Issuance of hard currenc