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Iraq plans to issue international bonds to $ 6 billion
Wednesday, September 9, 2015
DUBAI (Reuters)
Banking sources said that the Iraqi government will begin a campaign on Thursday to promote the first international bond issue in nine years, as it seeks to finance a budget deficit, due to falling oil prices and the war against Islamic militants, the organization of the state.
Sources said that Baghdad wants to collect up to $ 6 billion in a series of versions of dollar bonds, but the first version is expected to be much smaller.
He said 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 is expected to contribute to Baghdad put the largest oil producer in the Organization of Petroleum Exporting Countries as the second (OPEC) to reassure buyers to entitlements, and the large oil fields in the south of the country was not exposed to fight directly, in addition to that Iraq adopts an ambitious plan will continue for several years to increase its production of oil.
It is expected that Baghdad pay a high price for borrowing with a 10.37% yield on the Iraqi dollar bonds due in 2028.
The government expects a budget deficit this year, about $ 25 billion in budget worth about $ 100 billion.
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Wednesday, September 9, 2015
DUBAI (Reuters)
Banking sources said that the Iraqi government will begin a campaign on Thursday to promote the first international bond issue in nine years, as it seeks to finance a budget deficit, due to falling oil prices and the war against Islamic militants, the organization of the state.
Sources said that Baghdad wants to collect up to $ 6 billion in a series of versions of dollar bonds, but the first version is expected to be much smaller.
He said 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 is expected to contribute to Baghdad put the largest oil producer in the Organization of Petroleum Exporting Countries as the second (OPEC) to reassure buyers to entitlements, and the large oil fields in the south of the country was not exposed to fight directly, in addition to that Iraq adopts an ambitious plan will continue for several years to increase its production of oil.
It is expected that Baghdad pay a high price for borrowing with a 10.37% yield on the Iraqi dollar bonds due in 2028.
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.]
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