Bankers are starting to take orders for Ethiopia’s inaugural international bond sale, and the initial price whispers on the 10-year deal are for a yield of around 6.75 per cent.
That compares to Russia’s current dollar 10-year bond yield of just over 6 per cent, underscoring the demand for the slew of African bond debutantes that have come to the market in recent years.
The investor roadshow only ended today, and the Ethiopian deal is expected to be completed tomorrow. For more background on the bond sale from one of the world’s most impoverished countries read this earlier fastFT story.
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