Zambia’s Sovereign bonds continue faring well
Lusaka, December 8th, 2014, ZANIS —– Zambia’s two Sovereign Bonds that were issued in the International Capital Market have continued to post positive performances.
“According to a market assessment made on 4th December, 2014, Zambia’s US$1 billion bond which matures in 2024 is trading at 112.5 percent, thereby making it one of the best priced bonds amongst African Sovereigns.
“ In addition, at 95.38 percent, the price for the US$750 million is an improvement from the below 90 percent trade levels recorded in the first half of 2014,” Secretary to the Treasury Fredson Yamba has said.
The Secretary to the Treasury made an assurance in a Statement today that the Ministry of Finance would continue to issue briefs to ensure that credible and accurate information is shared with the public, both locally and in the international socio-economic arena.
Mr. Yamba also disclosed that the yield for the US$750 million bond now stands at 6.13 percent, up from almost 8 percentage levels recorded early this year. On the other hand, the US$1 billion bond yield rate is at 6.68 percent compared to 8.625 percent at issuance in April, 2014.
“This positive performance is a sign of the confidence which international investors have in our economic programs, policy consistency, predictability and assurances of socio-economic stability,” said Mr. Yamba.