Sampa: Bond Over-Subscription Proves Investor Confidence

Finance Deputy Minister Miles Sampa says the over-subscription of the country’s inaugural international bond, which resulted in realization of US$750 million, underscores huge investor-confidence in President Michael Sata’s Government.
Speaking at Deutsche Bank Offices on Wall Street, the world’s most famous financial hub, after Zambia’s successful issuance of an historic 750 million United States dollars bond on Thursday in New York, Finance Deputy Minister Miles Sampa said the bonds carry an unconditional and irrevocable guarantee from the Ministry of Finance.

Mr. Sampa says the huge demand and pricing underscores huge investors’ confidence placed on the country, the President and the PF government.

He says the country had a chance to even get more if it so wished but is careful to keep its international debt within manageable levels.

Zambia drew orders totaling US$11.5billion ahead of Thursday’s 750 million United States dollars debut bond, revealing the depth of demand for exposure to good assets out of Africa.

The finance deputy minister said the funds would help Zambia eliminate power blackouts, traffic jams, railway transportation challenges and speed up construction of other infrastructure.

And The Wall Street Journal, one of the world’s most respected dailies that attracts top-notch readership, reported that analysts cite Zambia as a good frontier story, putting the country’s economic fortunes above Portugal.

Posted by Editor on September 16, 2012. Filed under BUSINESS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

7 Responses to Sampa: Bond Over-Subscription Proves Investor Confidence

Ka-nkoya Reply

September 16, 2012 at 4:56 pm

Keep on working hard miles…
isaac Reply

September 17, 2012 at 9:29 am

This is what we want.Bond over subscription is a testmony enough that investors have for zambia. Mind you that is the biggest in sub sahara africa.Those who beleive in useless critisism should be seed to appreciate coz even them will not bring Canaan over night once in power.
am a serious PF DIE HARD. Reply

September 17, 2012 at 12:12 pm

why is zambia getting a loan when people were told MMD left a lot of foreign reserves? have these already been depleted in one year of PF rule? we need answers because it appears zambia is going back to the debt trap which mwanawasa and magande worked hard to dismantle.
bexx Reply

September 17, 2012 at 2:04 pm

Can samone pliz explain to me wat this bond is…What is it all bout?
RELOADED Reply

September 17, 2012 at 3:02 pm

hh talk we are waiting
Lyepa Luneta Reply

September 17, 2012 at 3:33 pm

Iwe bexx, BOND ni nkhongole/kaloba that government takes from another government or big business houses to finance its projects and is paid after many years with interest
LIVINGSTONE Reply

September 17, 2012 at 9:02 pm

MAN OF ACTION AT WORK. KEEP IT UP