(Reuters) - A debt exchange in which South Africa issued a $1 billion 15-year global bond and retired short-term paper will save the government $46.7 million per year, Finance Minister Trevor Manuel said on Wednesday.
As part of the exchange, which the government described as a vote of confidence in the economy, South Africa repurchased an equivalent $1.217 billion worth of old dollar-denominated bonds maturing in 2009 and 2017 and euro-denominated notes due 2008.
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As part of the exchange, which the government described as a vote of confidence in the economy, South Africa repurchased an equivalent $1.217 billion worth of old dollar-denominated bonds maturing in 2009 and 2017 and euro-denominated notes due 2008.
Read more at Reuters Africa
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