Tag Archives | Standard and Poor

Huge Demand for Iraqi Govt Bonds

By John Lee. Iraq opened the books yesterday on its first independent bond sale in a decade. “Investor demand was huge,” writese Marcus Ashworth at Bloomberg. “The deal was seven times oversubscribed.” The $1-billion, dollar-denominated bond, maturing in March 2023, was expected yield 7 percent, but demand enabled that to be cut to 6.75 percent. […]

Low Oil Price Threat to Iraq’s Eurobond Bid

By Simon Kent. A recent report by Standard & Poor gave Iraq a B- foreign currency rating, indicating significant risk for investors, but nonetheless noted that in the short term, the economy would remain stable with 0.3% growth and longer term, up to 5% from rising oil output up to 2018. That is the good news […]