Ethiopia Plans Its First Sovereign Bond Sale
Ethiopia will seek up to $1 billion (€804 million) from international investors through the issuance of a 10-year bond.Ethiopia will seek up to
$1 billion (€804 million)
from international investors through the issuance of a 10-year bond. The country's officials were visiting European capitals this week and will be in the US next week.
This big country of 90 million people is largely closed to foreign investors, but is considered by some
observers as one of the most promising African economies and still has low levels of debt. The issuance is expected to generate a lot of interest from international investors seeking higher yields.
The money will be used to finance an ambitious infrastructure building plan. It is hoped the operation will be as big a success as Kenya’s, which managed to raise $2 billion in June. As investors’ interest is still there, the country is now seeking an additional $500 to $750 million.