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Ethiopia To Issue Debut Dollar Bond Estimated At $1B In December

AFK Insider
By Kevin Mwanza
November 26, 2014

It’s been a great year for African government issuing debt on the international market and now Ethiopia is planning to sell its debut dollar bond worth about $1 billion before the yearend to fund its electricity, railway and sugar-industry projects.

The Horn of Africa nation is joining issuers, including Ghana, Kenya, Senegal and Ivory Coast, who sold what Standard Bank says is a record $15 billion of Eurobonds this year. Government and corporate issuers are seeking to benefit from investor appetite for higher returns before the US Federal Reserve raises interest rates as soon as next year.

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