Zimbabwe Scraps Plan to List $200 Million Bond on Dollar-Only Bourse
- Issuance plan sees limited investor appetite, high costs
- Government to explore cheaper options for dollar bond
Mthuli Ncube
Photographer: Cynthia R Matonhodze/BloombergThis article is for subscribers only.
Zimbabwe has scrapped a plan to list a $200 million dollar bond on its stock exchange in the resort city of Victoria Falls.
In the latest debt report presented to lawmakers on Nov. 30, Zimbabwe’s Treasury said the issuance of the bonds on the Victoria Falls stock exchange was not successful due to the “limited appetite” by potential international subscribers and the “high cost” of the Afreximbank guarantee fee, which was 30% of the face value.