Namibia Said to Sell Debut Eurobond to Fund Budget Deficit

Namibia is selling a debut $500 million international bond to help finance its budget deficit, according to three people familiar with the transaction.

The 10-year dollar-denominated securities are being sold to investors in Europe and the U.S., said an official from the central bank, who declined to be identified because the sale hasn’t been completed. The bond may be priced to yield between 5.75 percent and 6 percent, according to an investor and banker, who declined to be identified for the same reason.