3 days ago
Namibia to Raise $122 Million to Refinance Eurobond Due October
Namibia plans to raise $122 million in the domestic market to refinance a portion of its $750 million eurobond due October and will use a sinking fund to retire the balance, its Finance Ministry said.
With domestic liquidity at a record high and a projected $628 million in the sinking fund, the ministry stands by its decision to refinance the remaining portion by raising money in the local market or through other funding options, such as syndicated loans, it said in emailed responses to questions on Monday. 'We aim to raise $122 million' before the $750 million eurobond becomes due Oct. 29, it said.
