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The stock market announces the launch of the circulation of national bonds issued by the Central Bank of Iraq


yota691
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Abadi: Iraq sold treasury bonds without any external support
1708.jpg
Prime Minister Haider Abadi
 
 
 

Economy News Baghdad: 

Prime Minister Haidar al-Abadi said on Tuesday that Iraq has for the first time sold treasury bonds without any external support

"Iraq has put up $ 1 billion in treasury bonds a few days ago without any external support," Abadi told the weekly news conference, which was attended by "Economy News", adding that "requests to buy the Iraqi bond are very large, although the interest rate is 6.7%." 

He explained that "Iraq launched two years ago treasury bonds to support its budget, but the requests were weak and the interest rate is very high 11.5%," noting that "the government is working to provide an environment conducive to investment."

 

http://economy-news.net/content.php?id=8645

 

 

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On 8/4/2017 at 8:10 AM, DinarDavo said:

 

Agreed KB....I have been negged a few times for suggesting that there was more to the release as Iraq reached and surpassed multiple objectives on their way to status as a sovereign nation. My question is, why is Kuwait providing a $100B grant for reconstruction, (not a loan if translation is correct) if Iraq still owes them $5B?

Kuwait forgave the debt is what read maybe a year or so ago. it was big news I thought! Maybe this was guru poo roo! I hope someone could verifiy this as fact. Seems like I remember this!

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1 hour ago, Artitech said:

Kuwait forgave the debt is what read maybe a year or so ago. it was big news I thought! Maybe this was guru poo roo! I hope someone could verifiy this as fact. Seems like I remember this!

I posted this about a week ago stating the same thing.  Just could not remember the details. 

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1722.jpg
Logo of the Iraqi Trade Bank
 

Economy News Baghdad: 

The Iraqi Bank of Commerce announced on Wednesday that the global market began to trust the future of Iraq's economy after the issuance of the country's bonds worth one billion dollars.

The Iraqi Bank for Trade in a press statement received "the economy News" a copy of it, "The issuance of bonds issued by Iraq worth one billion US dollars in the global market exceed several billion and strong requests exceeded seven times the amount required."

He added that "the Iraqi Trade Bank announces the success of his participation as director of issuance in the process of international public offering of the Iraqi Republic for the first time, where the Iraqi government issued bonds worth one billion US dollars in the world market for five and a half years and a price of 100% and a return of 6.75%.

"Citibank, JPMorgan and Deutsche Bank have been key managers in the bond issuance process. The Iraqi Trade Bank has participated as co-manager," he said, noting that "the bond was rated B-Stable by companies Fitch Ratings and S & P. Bonds are also expected to fall within the Irish stock market. "

He pointed out that "the Iraqi government has organized with the banks that manage the issuance of bonds a number of comprehensive offers in London, Boston and New York and received a positive attention by investors from global investment funds, and proceeds of the IPO value of what was on the market more than seven times the amount required "He said.

"We are honored to be the co-directors of the $ 1 billion bond issue for the first time by the Iraqi government," Faisal Al-Hims, director of the Iraqi Trade Bank, said in the press release.

"We are pleased with the positive result we have received from the global capital market, where the proceeds of the subscription exceeded several times what was on the table, reflecting the confidence of the global capital market in the economic future of Iraq."

 

 

Views 17   Date Added 08/09/2017

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After the Tigris .. Iraq issues an international sovereign bond bearing the name (Euphrates)

By admin 06/08/2017 11:06 | Views
 
After the Tigris .. Iraq issues an international sovereign bond bearing the name (Euphrates)

 

The Prime Minister's Advisor for Financial Affairs confirmed the appearance of Mohammed Saleh that Iraq has issued the external sovereign bond in the international capital market for five years and the interest of 6.75% is paid every six months.

"The bond was rated by Fitch Ratings Group B, " Mohamed Saleh said in a statement"The number of international investment companies that have offered to buy and compete against it by about 350 companies invested globally with investment facts increased more than 12 trillion dollars."

He added that the companies had applied for (buy) the Euphrates bond, which was close to $ 6 trillion oversubscribed Including the Abu Dhabi Investment Fund, the Arab Monetary Fund and the California Education Fund, one of the wealthiest funds in the US West Coast and the world.

He noted that "the sale took place in London by the underwriting underwriters / The bond has been registered for sale and purchase in the Irish stock market / by using the standards of the European Union and one of the most accessible and efficient financial markets.

"The lowest subsidy category is $ 200,000 and it is compounded by multiples," he said. "Interest is paid half a year.

It is noteworthy that Iraq has issued in 2017 two consecutive international sovereign debt syndicates to trade in the international capital market until today: the first (Tigris) interest was 2,149% value of US $ 1 million guaranteed by the US government.

Today was the second sovereign bond issue (Euphrates) secured from the Government of the Republic of Iraq and classifies Alaitmana- B It carries interest at about 6.75 percent, which is lower than the Iraqi international bond that has been traded in the secondary world markets since 2006.

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  • yota691 changed the title to Iraq succeeds in issuing bonds worth one billion dollars in the global market
Iraq succeeds in issuing bonds worth one billion dollars in the global market
09/08/2017 14:04
 
 

BAGHDAD / Iraqi National News Agency (NINA) The Iraqi Trade Bank announced the success of its participation as director of issuance in the process of international launch of Iraq for the first time, indicating the issuance of the Iraqi government bonds worth one billion US dollars in the world market for five and a half years and the price of issuance of 100% and return By 6.75%. 

According to a statement by the bank today, "Several banks, including Citibank, JPMorgan and Deutsche Bank, have been co-directors of the bond issue, and the Iraqi Bank for Trade has participated as co-manager. 

" B-Stable) by global rating agencies Fitch and S & P. Bonds are also expected to fall within the Irish stock market. 

The bank stressed that " The Iraqi government has arranged with the banks that manage the bond issue several comprehensive offers in London, Boston and New York where these offers received a very positive interest from investors from global investment funds. The proceeds exceeded the value of what was on the market more than seven times the amount required

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1772.jpg
 
 
 

Economy News _ Baghdad

A member of the Committee on Economy and Investment parliamentary Najiba Najib, Friday, that the government borrowed from the Central Bank of Iraq 32 billion dollars to cover the military needs in the war against "Daash," indicating that high oil prices and reliance on non-oil revenues will pay the government debt to the bank.

Najib said in an interview with the newspaper "Economy News" that "the financial crisis suffocating the country, as a result of the collapse of oil prices and drainage on the war against Daqash, make the government in a difficult situation and having to borrow funds from the Central Bank," noting that " Has drawn from the central bank $ 32 billion to cover the state treasury bonds.

She added that "77 billion dollars, is the Iraqi reserve funds, but the consumption brought it down to 45," noting that "the improvement of oil prices and the arrival of the barrel to $ 50, and reduce expenditures, and the adoption of the policy of raising revenue through non-oil products, Reserve funds, which are considered funds belonging to Iraqis. "

 

 

Views 438   Date Added 11/08/2017

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CNN. Broadcasting With Borat ! Is Great Success - Very Nice !

 

 

 

(by walkingstick)

Iraq is entering the global financial markets with great success

 Expert for {morning}: prime economic minister plans paid off 
Baghdad / follow Farah pumice 
announced the Iraqi Trade Bank of the success of his participation as a manager issue in the process of global international Iraq bonds put forward for the first time, at a time when financial expert confirmed that Dr. Haider Abadi , the prime minister 's plans succeeded and paid off . 

The government issued 1 billion dollars worth of bonds on the world market for five and a half years at a 100 percent issuance rate and a yield of 6.75 percent. 

Citibank, JPMorgan and Deutsche Bank were co-directors of the bond issue, while the Iraqi Trade Bank was co-director. 

The bond is rated B-Stable by global rating agencies Fitch and S & P. Bonds are also expected to fall into the Irish stock market. 

The government, along with the banks that manage the bond issue, has organized a wide range of offerings in London, Boston and New York, as they received a very positive interest from investors from global investment funds. 

The proceeds exceeded the value of what was on the market more than seven times the amount required. 

Faisal Al-Hims, General Manager of the Iraqi Trade Bank, said: "We are proud to have been involved in the issuance of bonds worth one billion dollars for the first time by the Iraqi government." 

"We are also pleased with the positive result we have gained from the global capital market, as the proceeds of the IPO exceeded several times was not reflected the confidence of the global capital market in the economic future of Iraq." 
Prime Minister Dr. Haider Abadi said at the weekly press conference that " 

Iraq, the issuance of treasury bonds worth one billion dollars a few days ago without any external support, "adding that" requests to buy the Iraqi bond is very large, although the interest rate of 6.7 percent. " He explained that" Iraq launched two years ago Treasury bonds to support his budget, but the requests were weak and interest rates Very high 11.5 percent, "adding that" the government is working to provide an environment conducive to investment. " 

According to the financial adviser to Prime Minister Dr. Mazhar Mohammed Saleh," the move, "this move gives a strong signal to investors to deal with Iraq with high confidence, The financing of the general budget by flexible external or international financial markets Global rather than multilateral financial institutions. " 

He pointed out that the important thing in this subject is the confidence of investors in the Iraqi economy and the strength of the national economy promising the victor in the front of the war on terrorism, and we are now reaping the results of the victory really.  

The financial expert, Thamer al-Azzawi, told al-Sabah that the prime minister's plans have borne fruit, despite the circumstances that the country has undergone in the past period. 

He said: "The plans implemented by Dr. Abadi three years ago were well studied, especially with regard to capital. We succeeded in maintaining the dinar exchange rate while continuing to pay salaries and dues, maintaining the war against the enemy and achieving economic victories parallel to security."

 

http://www.alsabaah.iq/Article.....?ID=142472

 

  

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  • yota691 changed the title to The stock market announces the launch of the circulation of national bonds issued by the Central Bank of Iraq

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