Iraq Tightens Pricing on $1 Billion International Bond Sale
- Notes due in 2023 offered at 6.75 percent, may price Wednesday
- Second sale this year and first unsupported in a decade
Downtown Baghdad with the Dome of the 17 Ramadann Mosque in the foreground
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Iraq has set final terms on its first unsupported bond in more than a decade, a milestone for the country that’s seeking to rebuild its economy after years of political and sectarian strife.
The country is offering $1 billion of bonds due in 2023 at a yield of 6.75 percent, tightened from earlier guidance of about 7 percent amid orders for almost seven times the issue size, a person familiar with the matter said, asking not to be named because they aren’t authorized to speak publicly.