Syria, seeking financing for development projects as oil revenue declines, will have “no problem” finding buyers in its first sale of treasury bills and bonds on Dec. 13, Central Bank Governor Adib Mayaleh said.
The government will sell 1 billion Syrian pounds ($21 million) each of five securities with maturities ranging from three months to five years, Mayaleh said in a phone interview late yesterday.
The notes are “all conventional paper” rather than Islamic-finance instruments, and the rates will be fixed by the Finance Ministry, not determined by the market, he said. Only banks registered in Syria will be eligible to bid.
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