FMO and World Bank in local currency debuts

The Netherlands Development Finance Company (FMO) has added another product to its local currency offering after selling its first ever note linked to the Tanzanian shilling. The deal came in the same week that World Bank debuted in Peruvian soles.

  • By Craig McGlashan
  • 24 May 2018

FMO printed a $15m 7.65% December 2023 at par on Tuesday via Bank of America Merrill Lynch, with the deal later increased to $19m.

Interest and redemption payments are linked to the dollar/Tanzanian shilling exchange rate. On the trade date, the issuer determined the equivalent shilling amount ...

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