Landmark Deal Caps a Record Year for Frontier Market Debt Issuance By Ben Edwards The Wall Street Journal Ethiopia completed its debut dollar bond sale on Thursday, capping off a record year for frontier market debt issuance. The 10-year bond priced to yield 6.625% and raised $1 billion, according to one of the banks working
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Landmark Deal Caps a Record Year for Frontier Market Debt Issuance By Ben Edwards The Wall Street Journal Ethiopia completed its debut dollar bond sale on Thursday, capping off a record year for frontier market debt issuance. The 10-year bond priced to yield 6.625% and raised $1 billion, according to one of the banks working
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By Sarah Owermohle, CPI Financial Moody’s has assigned a provisional (P)B1 rating to Ethiopia’s upcoming dollar-denominated bond offering, while Standard and Poor’s (S&P) has assigned it a ‘B’ rating. The bond, Ethiopia’s first issuance in international markets, will fund Government capital expenditures, including development of the sugar and energy industries and general budgetary expenses,
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Financial Times Ethiopia is planning to issue its first eurobond tomorrow after finishing off an investor roadshow in New York today, and will become the second-poorest country on record to tap the international debt market. Ravenous demand for higher-yielding debt has encouraged a slew of countries previously shut out of international bond markets to issue
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FT-Ethiopia could be the latest African country to tap international bond markets for the first time, after mandating Deutsche Bank and JPMorgan to take it on a roadshow to meet investors this week. Ethiopia is one of the poorest countries in the world, with a gross domestic product per capita of just $1,240 (adjusting for
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