GOVT TO LAUNCH NON-DEAL ROADSHOWS TO BOOST EUROBONDS
GOVERNMENT will within the first quarter of 2018 embark on non-deal roadshows meant to further improve the performance of Eurobonds on the international market which are currently performing well.
Non-Deal Roadshows are meant to attract various large investors and keeps them acquainted of how the business is going.
According to Ministry of Finance Permanente Secretary, Mukuli Chikuba, the three Eurobonds - the US$750 million, US$1 billion and the US$1.25 billion were trading below the levels they were issued at hence the introduction of the Non-Deal Roadshows.
Mr. Chikuba explained in an interview that Government was optimistic that the roadshows would improve the performance of the Eurobonds.
He, however, said Government was satisfied with the performance of the Eurobonds.
“So far we are very satisfied with the performance, with the upgrades we get from the rating agencies also gives a positive link into the investors that are holding the bonds,
“However, we will also be going on Non-Deal Road shows pretty soon, we will have one within the first quarter of this year to try and sensitise investors on what we are doing here and how we are doing on the reform programme,” he said. Mr. Chikuba also said the ministry had set up a dedicative team which would be in charge of refinancing the three Eurobonds.
He said the teams would be giving the public updates on the Eurobonds to avoid misleading statements.
“The Eurobonds are doing quite well, most of them are trading below the levels that they were issued at, and we will try and support that position from the Ministry of Finance,
“What we have done is that we want to provide a little bit of information not just to the Zambian community but to the international public on what we are doing a s a republic, how we are performing and then with that we are going to boost the performance of the Eurobonds even further,” Mr. Chikuba said.