Thursday, 31 May 2012

Zambian Gov't selects barclays bank/ABSA and deutsche bank of germany as book runners for the $500million 10years bond.

Government Has Selected Barclays Bank/Absa And Deutsche Bank Of Germany As Book Runners For A Debut $500 Million 10 Years Eurobond.

This Is Expected To Be The First Debut By A Sub-Saharan Sovereign This Year And Should Attract Decent Investor Interest Given The Country's Rapid Economic Growth And Political Stability.
The Imf Projects Growth Of 7.7 Percent This Year, Driven By Rising Copper And Agricultural Production.
Zambia Has Been Mulling A Eurobond For Many Years But The 2008 Global Financial Crisis And   Change Of Government Last Year Delayed Those Plans.
According To Ministry  Of Finance And National Planning Minister Alexander Chikwanda, Barclays And Deutsche Bank Were Chosen From A Short-List Of 11 Banks Asked For Proposals Last Month Out Of The 16 Which Expressed Interest As Book Runners.
Meanwhile Mr. Chikwanda Says A United Kingdom Law Firm White And Case Will Act As Legal Adviser Adding That By Issuing The Bond Zambia Will Establish A Pricing Benchmark For Future Bond Issuance By Both The Private And Public Sector
He Says This Will Further Continue To Enhance The Visibility Of The Country As A Favorable Destination For Investment.

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