News Column

Zambia : ZAMBIA successfully floats US $1 billion bond

June 10, 2014

Zambia successfully issued a second sovereign bond in the global capital market amounting to US $1.0 billion.

In September 2012, Acting Finance Minister Edgar Lungu says like the first sovereign bond issue the nation made, the second bond has been a resounding success and was over-subscribed.

He said in a statement on 8 June 2014 that this was an affirmation and expression of the confidence the global investor community had in Zambia.

Lungu added that the bond proceeds would be targeted at growth-prompting projects in the different crucial sectors of the economy namely the energy and transport sectors.

A team from the the Bank of Zambia, Ministry of Finance, and Ministry of Justice had worked hard to rally global investors behind the second sovereign bond.

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Source: TendersInfo (India)

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