After the Tigris .. Euphrates another sovereign international support for Iraq in the global capital market


 

Editorial date: 2017/8/5 17:0477 times read
{Iraq: Al-Furat News} Iraq issued an external sovereign bond in the name of {Euphrates} in the global capital market after the first bond in the name of {Tigris}.
A statement by the Prime Minister’s Advisor for Financial Affairs, the appearance of Mohammed Saleh received the agency {Euphrates News} a copy of it today, “Iraq issued on Wednesday, 2 August 2017 an international sovereign bond bearing the name of {Euphrates} the duration of the bond is 5 years and the interest rate is 6.75% six months “.
Saleh added, “Sindh was classified by Fitch for credit rating B, and the number of international investment companies that submitted for purchase and competed with about 350 global investment companies with investment facts more than $ 12 trillion and have applied for the purchase of Sword Euphrates approached $ 6 trillion oversubscribed, including the Abu Dhabi Investment Fund, the Arab Monetary Fund and the California Education Fund, one of the wealthiest funds in the US West Coast and the world. ”
“The sale took place on Wednesday, 2 August 2017, in London, by the underwriters. The bond for sale and purchase was registered on the Irish stock market, using the EU standards, which is one of the most accessible and efficient financial markets.”
Saleh said that “the lowest category of the bond is 200 thousand dollars and increase complications, noting that the interest paid half a year, and thus the Republic of Iraq issued in 2017 successive international sovereign bonds combined to trade in the global capital market until the first day {Tigris} benefit 2,149 “The value of the issue is $ 1 million guaranteed by the US government.”
“Today, the second sovereign bond (Euphrates) issued by the government of the Republic of Iraq has been issued and classified as B-credit and carries interest at 6.75%, which is lower than the Iraqi international bond that has been traded in the secondary secondary markets since 2006″ 28 and its utility or yield is currently 7.6%}. ”
He pointed out that “the average annual interest on the Tigris and Euphrates {blinded according to the hypothesis of wacc} is 4.4% per annum.”

 

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