More rand deals, different reasons
After last week’s rand issues from the European Investment Bank and KfW to prepare for EIB’s forthcoming R1.5bn redemption, there have been more rand issues this week, albeit of a different sort and for different reasons. The European Bank for Reconstruction and Development has issued a dual-tranche rand Uridashi through Daiwa; the African Development Bank has made a R2bn domestic issue to finance South African infrastructure projects; and EIB has increased its R5.15bn October 2013 issue by R150m. Read this week’s EuroWeek for details on these and other niche currency bonds.
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