Friday, October 17, 2014

Ethiopia picks three banks for debut US dollar Eurobond

LONDON, Oct 16 (IFR) - The Federal Democratic Republic of Ethiopia has picked BNP Paribas,
Deutsche Bank and JP Morgan to arrange a debut US dollar-denominated Eurobond, according to sources.

The bond is likely to have a minimum 10 year tenor, according to a source.
The banks declined to comment.
Ethiopia hopes to issue a bond either by the end of this year or early 2015, finance minister Sufian Ahmed Beker told IFR earlier this month.
Ethiopia is rated B1 by Moody's and B by both Standard & Poor's and Fitch Ratings.