Tunisia plans to issue $300 million to $350 million in debt guaranteed by the U.S. government in July, a finance ministry official said on Wednesday, as it taps international debt markets for the first time in five years.
"The maturity is highly likely to be seven years. We have not yet decided which banks to mandate but they will be international," Chaker Soltani, director general at the finance ministry, said on the sidelines of an Arab Monetary Fund conference in the UAE capital.
The U.S. guarantees will enable Tunisia to borrow at much lower rates than its risk profile would normally allow. Soltani said he expected rates around 50 to 75 basis points over U.S. Treasuries.
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