Zambia Railways Plans $500 Million Bond to Expand Network
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Zambia Railways Ltd., the state-owned operator, plans to sell a $500 million-dollar bond as it joins at least three other government companies and municipalities issuing more than $4 billion in debt this year.
Zambia’s maiden $750 million Eurobond, which saw 24 times more demand than government sought to raise, has encouraged local companies, including the Roads Development Agency, Zesco Ltd., and the Lusaka City Council to follow.