Home
Banking sources: government begins on Thursday to promote an international bond issue
08-09-2015 01:25 PM
Banking sources said that the Iraqi government will promote the campaign on Thursday for the first international bond issue in nine years as it seeks to finance a budget deficit because of falling oil prices and the war against Sunni Islamist al Daash.
Sources familiar with the matter told Reuters that Baghdad want to combine up to six billion dollars in a series of versions of the bills dollar, but the first version is expected to be much smaller.
He Mrtbo versions of Citigroup, Deutsche Bank, JP Morgan arranging version and will begin meetings with investors in the United Kingdom and the United States.
In spite of the political risk in Iraq, it is expected contribute Baghdad put the largest oil producer in the Organization of Petroleum Exporting Countries as the second (OPEC) to reassure buyers on entitlements and the large oil fields in the south of the country was not exposed to fight directly in addition to that Iraq adopt an ambitious plan will continue for several years to increase its production of oil.
It is Baghdad is expected to pay a high price for borrowing with a 10.37 percent return on Iraq's dollar bonds due in 2028.
Prior to the sale this month, Iraq won the first sovereign credit rating gave him his where Bretton Standard & Poor's and Fitch, a rating B- less than six degrees of investment grade rating.
The government expects a budget deficit this year, about $ 25 billion in budget worth about $ 100 billion.
[You must be registered and logged in to see this link.]
08-09-2015 01:25 PM
Banking sources said that the Iraqi government will promote the campaign on Thursday for the first international bond issue in nine years as it seeks to finance a budget deficit because of falling oil prices and the war against Sunni Islamist al Daash.
Sources familiar with the matter told Reuters that Baghdad want to combine up to six billion dollars in a series of versions of the bills dollar, but the first version is expected to be much smaller.
He Mrtbo versions of Citigroup, Deutsche Bank, JP Morgan arranging version and will begin meetings with investors in the United Kingdom and the United States.
In spite of the political risk in Iraq, it is expected contribute Baghdad put the largest oil producer in the Organization of Petroleum Exporting Countries as the second (OPEC) to reassure buyers on entitlements and the large oil fields in the south of the country was not exposed to fight directly in addition to that Iraq adopt an ambitious plan will continue for several years to increase its production of oil.
It is Baghdad is expected to pay a high price for borrowing with a 10.37 percent return on Iraq's dollar bonds due in 2028.
Prior to the sale this month, Iraq won the first sovereign credit rating gave him his where Bretton Standard & Poor's and Fitch, a rating B- less than six degrees of investment grade rating.
The government expects a budget deficit this year, about $ 25 billion in budget worth about $ 100 billion.
[You must be registered and logged in to see this link.]
