German Bank's issue in drachmas dominates quiet Eurobond trading

Article Abstract:

Duetsche Pfandbriefe & Hypotekenbank's (Defta) issue of drachma-dominated bond controlled the rather slack Eurobond trading on May 22, 1998. Defta rolled-out 10 billion Greek drachmas or four-year Eurobonds valued at $33 million that pay 80 basis points under the three-month athimid, the standard Greek interbank lending rate. According to Morgan Stanley International, the German bank's bonds had to be introduced at a relatively unfavorable time due to the queuing system of Bank of Greece. Around 80% of Defta's issue of drachma-dominated bonds, which are the first floating-rate notes in the Greek currency for 1998, went to Italian investors.

Comment:

Issue of drachma-dominated bond dominates the rather slack Eurobond trading on May 22, 1998

Commercial Banks, Commercial Banking, Securities issued, listed, Article, Duetsche Pfandbriefe and Hypotekenbank

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World Bank offers Africa AIDS help

Article Abstract:

The World Bank has launched a campaign promising almost unlimited financial assistance and quick action to defeat the AIDS virus. The emergency credit line begins at $500 million and will be virtually unlimited.

Administration of General Economic Programs, International economic relations, World, Ethiopia, Use of Funds, Nigeria, Kenya, Zimbabwe, Zambia, Foreign Aid-Loans, International relations, World Bank, Foreign loans

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