Iraq's government will start an investor roadshow on Thursday for its first international bond issue in nine years

September 09, 2015 | Schildershoven Finance B.V.

As reported, Iraq's government will start an investor roadshow on Thursday for its first international bond issue in nine years, as it seeks to finance a budget deficit caused by low oil prices and its war against Islamic State militants. Baghdad wants to raise up to USD 6 billion via a series of US dollar bond sales, though the first issue is expected to be much smaller. Ahead of this month's sale, Iraq obtained its first sovereign credit ratings; Standard & Poor's and Fitch rated it ‘B-’. Iraq's outstanding U.S. dollar bond maturing in 2028 is trading at a yield of 10.37%

Company: Iraq

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