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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq Bond Issue Shelved Again

    Rocky
    Rocky
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    Posts : 281267
    Join date : 2012-12-21

    Iraq Bond Issue Shelved Again Empty Iraq Bond Issue Shelved Again

    Post by Rocky Tue 24 Dec 2013, 5:44 am

    Iraq Bond Issue Shelved Again

    Posted on 22 December 2013

    The recent surge in sectarian violence has sent Iraq’s bond yields higher, prompting officials to postpone a planned debt sale.

    Deputy Finance Minister Fadhel Nabi told Bloomberg:

    “We will definitely issue new bonds, but it will take more time now with all the problems in the country.”

    The news agency also reports that the yield on Iraq’s 5.8 percent dollar bonds maturing in January 2028 rose 19 basis points from the end of September to 7.8 percent, compared with a 4 basis-point decline to 5.2 percent in the average yield on regional sovereign debt.

    The government’s plan for a second bond, which Nabi announced in October, is not assured. Iraq said more than two years ago, in July 2011, that it would come to market in a year to finance new infrastructure after decades of wars and economic sanctions, but it hasn’t done so.

    The premium for Iraqi sovereign bonds over Treasuries has widened by 32 basis points since the end of October to 540 Wednesday; the comparable spread for Middle East government bonds fell 16 basis points to 414, according to JPMorgan.

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