By Reshmi Basu
New York, March 15 - European Investment Bank (Aaa/AAA/AAA) said it sold the first issue of Namibian dollar-denominated bonds Wednesday in order to extend the euromarket bond issuance in African currencies.
The EIB sold 250 million Namibian dollar bonds due 2011 at par to yield 7.90%.
The bond is synthetic with settlements and payments paid out in euros, EIB said in a statement.
"This issue is a significant contribution to EIB's strong developmental track record in Africa," said David Clark, head of funding for Europe (ex-euro) and Africa, in the release.
"This builds on our strong position in South African rand as well as our latest initiatives in other African markets - in Bostwana pula and Egyptian pounds."
WestLB was the lead manager for the transaction.
EIB is the European Union's financing institution.
| Issuer: | European Investment Bank
|
| Amount: | 250 million Namibian dollars
|
| Issue: | Namibian dollar-denominated bonds
|
| Maturity: | March 30, 2011
|
| Coupon: | 7.90%
|
| Issue price: | Par
|
| Yield: | 7.90%
|
| Pricing date: | March 15
|
| Lead manager: | WestLB
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
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