#News: #Ethiopia to issue a ten year international bond Sofian Ahmed, Finance and Economic Development Minister announced on Monday (October 6) that the Government plans to issue international bonds at the end of the year. This is the first time the country has moved to join the international capital market and it follows the sovereign credit ratings given to the country by three top international rating agencies last May when Ethiopia had a credit rating of B from Standard & Poors and Fitch for the countrys sovereign treasury bonds, while Moodys gave a B1 (B+). Minister Sofian said “on the basis of the ratings, the government of Ethiopia has decided to issue a 10-year international bond and to access the international capital market.” He said “the bond sale would serve as a potential means for the government to know the risk premium,” and it would help Ethiopian business access international capital markets by providing a benchmark for risk assessment. The Minister said the funds raised from the sale of bonds would be utilized to finance infrastructure projects. The Minister said all the necessary preparations had been carried out including selection of banks to issue the bond on behalf of the Ethiopian government. An agreement would be signed soon with three banks. mfa.gov.et/news/more.php?newsid=3551
Posted on: Tue, 07 Oct 2014 09:22:03 +0000
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