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Wednesday, 2 August 2017

Iraq in market to raise $1 billion, first standalone bond in over decade

Iraq in market to raise $1 billion, first standalone bond in over decade:

"Iraq started marketing a $1 billion bond on Wednesday, its first international debt issuance as a standalone credit since 2006 and an attempt to put decades of turmoil behind it. With huge oil reserves behind it, the bond was seeking to tempt emerging market investors with alluring profits -- necessary to offset concerns over a history of war and the recent rise of militant group Islamic State. Iraq issued $1 billion in bonds last January, but that offering was 100 percent guaranteed by the U.S government. This time it is alone."



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