Namibia Awards Eurobond Refinancing Mandate to Three Local Banks

Namibia’s Finance Ministry has appointed three domestic lenders to help it raise about $122 million to refinance a portion of its $750 million eurobond due next month.

A request “was issued to local commercial banks, to which the banks have responded with keen interest,” Finance Minister Ericah Shafudah said in an statement emailed to Bloomberg. The ministry declined to name the banks or disclose the conditions of the refinancing, saying details would be provided once the process is complete.