IRAQ

KRG Plans Independent Bond Issue

Lacking enough funds to stay afloat and honor commitments to the foreign oil companies in the region, the KRG has passed a law that would allow it to raise funds through a bond issue, a move that could be interpreted as Erbil acting as a state within a state. It has retained Deutsche Bank and Goldman Sachs to act as managers and arranged a series of meetings with international fixed income investors in London, “with a view to a potential...