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Zimbabwe: CBZ to issue $200m bonds

International
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CBZ Holdings would sell $200 million (R2.1 billion) of bonds backed by Africa Export Import Bank (Afreximbank), CBZ chief executive Never Nyemudzo said last week. Afreximbank would underwrite the debt, which would pay a coupon of 7 percent, he said. “We’re going to conclude that bond… this year,” he said. “We have a number of projects in the pipeline from infrastructure to mining and food processing.” CBZ acted as the government’s banker when hyperinflation began. That responsibility had returned to the central bank, Nyemudzo said. – Bloomberg

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