VOL. XLVII
No 04
26-January-2004
ENERGY FINANCE
Algeria's Sonatrach Concludes $70mn Bond Issue
Algerian oil and gas company Sonatrach said on 9 December that it had concluded a $70mn bond issue with five local banks. The bond, which carries an interest rate of 2.99%, was arranged by BEA (Banque Exterieure dAlgerie) and attracted the interest of local financial institutions including CNEP (the national savings bank), CNAC (the pension fund), and CAAT (the Algerian insurance company). These banks...
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