Tag Archives | Debt

DNO Completes $400m Bond Placement

DNO ASA, the Norwegian oil and gas operator, has completed the private placement of USD 400 million of new five-year senior unsecured bonds with a coupon rate of 7.875 percent. The placement met strong investor demand across international markets and was significantly oversubscribed, leading the Company to upsize the new bond issue from USD 300 […]

Covid-19: Iraq asks IMF for Debt Deferment

From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq asks IMF for debt deferment due to coronavirus crisis The economic and finance adviser to Iraq's Prime Minister has revealed that talks are taking place […]

Household Debt in Iraq: Borrowing in a Time of Crisis

1. EXECUTIVE SUMMARY This study seeks to better evidence and understand the scale, terms, sources, uses, and social dimensions of household debt within conflict-affected communities in northern Iraq, with a view to inform ongoing and future CCI relief and recovery programming. The research was carried out in two conflict-affected districts in the Ninewa governorate – […]

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Iraq Negotiates Debt Exemption

The Iraqi Foreign Ministry has signed a Memorandum of Understanding with the General Secretariat of the League of Arab States, which includes exempting Iraq from 75% of its debts within the support funds provided to Arab countries, scheduling the remaining amount and paying for its contributions to the budget of the General Secretariat of the […]

Understanding Iraq’s Debt

By John Lee. The Al-Bayan Center for Planning and Studies has just published a new report from our Expert Blogger Ahmed Tabaqchali. Entitled "Understanding Iraq’s debt: An overview of its status, outlook and origins", the report argues that much of that debate about Iraq's debt is out of context, mixes loosely related facts and figures […]

Iraq plans New Bond Issue in 2018

By John Lee. Following Iraq's successful return to the bond markets earlier this year, it is now reportedly planning a $2 billion sovereign bond issue in 2018. The Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq [Alak] (pictured), told Reuters that the plan is currently awaiting parliamentary approval. He added […]

Bondholders Take Control of GKP in $500m Restructuring

By John Lee. Gulf Keystone Petroleum (GKP) announced this morning that $500 million worth of company bonds are to be converted into equity, diluting current shareholders to a stake of just 5 percent of the company. The company's shares fell another 40 percent in early trading, and a new Chairman, Keith Lough, has been appointed […]

Iraq Plans New Bond Issuance

By Simon Kent. Iraqi Central Bank Governor Ali Al-Alak has said that Iraq is issuing bonds to the value of around $2 billion in the next few months, following last year's aborted issuance after investors demanded too high a yield. At the time, investors demanded an 11% yield on the bonds, and the issuance was handled […]

KRG to Enter Bond Market

By Simon Kent. After months of talks, the Kurdish Regional Government says it has authorisation from Baghdad to issue bonds, in a move aimed at easing growing financial pains in the semi autonomous region. According to Bloomberg, the region needs approximately $1.4 billion to balance its books. Quoting IBN blogger Robert Tollast, the report noted how the KRG […]

Egypt Forgives Iraqi Debt in Exchange for Oil

By Ayah Aman for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. Iraqi Prime Minister Haider al-Abadi’s visit to Cairo on Jan. 11 included several political, military and economic agreements, and marked a new chapter in Egypt-Iraq relations. These agreements also contributed in […]

Zambia Still Owes Iraq

By John Lee. The Zambian Secretary to the Treasury, Fredson Yamba (pictured), says Government has not serviced the US$296 million debt owed to Brazil, China and Iraq as at December 2012. According to the report from Zambia Daily Herald, Mr Yamba said Brazil, China and Iraq are the only three remaining bilateral creditors that are […]

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