Financial and Banking News


Iraq Finances Debt through Korean Notes

Arab Bank, acting as agent bank, and Korea Export Bank are lead-managing a $30mn note issuance facility in favor of Hyundai Corporation which is in effect a financing exercise for Iraqi debt. The facility covers notes issued by the Iraqi State Organization for Electricity, which have a final maturity in February 1991 and carry a spread over libor of 0.625%. The notes carry an explicit guarantee from...