Zesco of Zambia Plans to Borrow $2 Billion in U.S., U.K.
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Zesco Ltd., Zambia’s state-owned power utility, has sent managers to the U.K. and the U.S. in a bid to borrow as much as $2 billion through loans and bonds, Managing Director Cyprian Chitundu said.
Standard Bank Group Ltd. of South Africa is advising the company, which met investors in London, Boston and New York, Chitundu said in an interview on Nov. 29 in Livingstone, in the south west of the country. It may also sell a Eurobond similar to the $750 million raised by the government in September, he said.