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(LUSAKATIMES) President Sata expresses gratitude for the successful launch of Zambia’s Eurobond

President Sata expresses gratitude for the successful launch of Zambia’s Eurobond
TIME PUBLISHED - Friday, September 14, 2012, 3:45 pm

President Michael Sata has expressed profound gratitude to the international investor community for the massive and overwhelming support for Zambia’s first sovereign bond.

This is according to the statement made available to the media by the President’s special assistant for press and public relations George Chellah.

According to the statement, President Sata is delighted at the confidence placed in Zambia by financial houses in America, Europe and Asia resulting in the bond realisation of US$750 million, far beyond the US$500 million which was originally envisaged.

The Head of State wishes to heartily congratulate the Zambian team for the superb accomplishment.

The team led by finance deputy minister Hon. Miles Sampa included among others Ministry of Finance permanent secretary for economic management Mr. Felix Nkulukusa and Bank of Zambia (BoZ) deputy governor operations Dr. Bwalya Ng’andu.

The President has highly commended the team’s unique sense of duty and commitment stating that they went on road show to sell the bond and were thoroughly prepared for the task.

“The achievement of the first bond being oversubscribed establishes Zambia as a very credible investment destination and that our country has a vibrant future,” the President observed.

“We will continue to value foreign investment and do everything within our powers to safeguard the investment climate. Clean investment has no reason to fear Zambia.

“This happy outcome is a credit to the people of Zambia who are the architects of unity, peace and stability that our development prospects are firmly anchored on.”

Labels: BONDS, DEBT, MICHAEL SATA

posted by MrK @ 3:35 PM