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South Africa : Treasury monitors market conditions for issuance of foreign currency denominated bond.

National Treasury stipulated in the Budget Review 2017 that an equivalent of US$2 billion in funding would be raised in the international capital market to meet part of governments foreign currency obligations.

National Treasury continues to monitor market conditions and may access international capital markets prudently as it has done in the past. National Treasury also seeks to move quickly if opportunities arise, and the size and terms of any financing will be based on need and availability.

In the event National Treasury proceeds with an offering, it would appoint a syndicate of international and/or local banks and BBBEE partners, and make further announcements in line with applicable regulations and market practice.

Further details will follow once the process has been finalised and the respective banks and BBBEE partners have been appointed.

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Publication:Mena Report
Date:Sep 7, 2017
Words:147
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