Zambia pays premium for 10 year but bond storms in secondary
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Emerging MarketsAfrica

Zambia pays premium for 10 year but bond storms in secondary

Zambia had to pay up for its second ever Eurobond this week, offering a nice concession to secure a $1bn 10 year bond. But a wave of demand sent the bond up two cash points in the secondary market despite the sovereign's financial difficulties, which bodes well for African borrowers with stronger credit metrics.

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