Standard Chartered in talks on $2bn Iraq Bond Sale

By John Lee.

The CEO of Standard Chartered in Iraq has said that the bank is in talks with Iraq’s Finance Ministry to take part in a $2-billion bond sale this year.

Andreas Meletiou also told Bloomberg that the London-based bank is also holding talks with other government institutions about their financing needs.

A planned sale of government bonds last year was halted because investors demanded yields that the government deemed too high. Citigroup, Deutsche Bank and JPMorgan Chase had been working on that deal.

Fitch Ratings last week revised its outlook on Iraq’s long-term foreign currency Issuer Default Rating (IDR) to Negative from Stable.

(Source: Bloomberg)

(Bonds image via Shutterstock)

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