Rwanda:
Rwanda Opens Order Books For Its First Bond sale
Rwanda has opened order books for investors on its highly anticipated first bond sale, one of the banks managing the deal said Wednesday. The landmark issue looks set to satisfy investors' hunger for yield and help the landlocked Sub-Saharan country towards financial independence.
The country aims to raise $400 million through a bond with a 10-year maturity. Regardless of demand, the size of the deal isn't expected to rise.
Investors can now place their early orders for the bond.
Officials from the country have been meeting investors in Asia, Europe and the U.S. for a week in preparation for the 10-year dollar-denominated bond.
The proposed deal follows five other bond sales from African countries this year, as investors scrambling for yields are increasingly looking to the continent for higher, if riskier returns than they would get in more developed markets.
The issuer is rated B by both Standard and Poor's and Fitch Ratings. BNP Paribas and Citigroup are managing the deal.
Write to Serena Ruffoni at serena.ruffoni@dowjones.com
Copyright © 2013 Dow Jones Newswires
Rwanda Opens Order Books For Its First Bond sale
Rwanda has opened order books for investors on its highly anticipated first bond sale, one of the banks managing the deal said Wednesday. The landmark issue looks set to satisfy investors' hunger for yield and help the landlocked Sub-Saharan country towards financial independence.
The country aims to raise $400 million through a bond with a 10-year maturity. Regardless of demand, the size of the deal isn't expected to rise.
Investors can now place their early orders for the bond.
Officials from the country have been meeting investors in Asia, Europe and the U.S. for a week in preparation for the 10-year dollar-denominated bond.
The proposed deal follows five other bond sales from African countries this year, as investors scrambling for yields are increasingly looking to the continent for higher, if riskier returns than they would get in more developed markets.
The issuer is rated B by both Standard and Poor's and Fitch Ratings. BNP Paribas and Citigroup are managing the deal.
Write to Serena Ruffoni at serena.ruffoni@dowjones.com
Copyright © 2013 Dow Jones Newswires
