Thursday 26 April 2018
( 02/26/13)
The United Republic of Tanzania's plan to privately sell floating rate notes has been met with scepticisms by market participants, who see the transaction as an about turn on the sovereign's plans to issue its debut Eurobond. The unrated East African sovereign has mandated Standard Bank for the dollar-denominated Reg S benchmark, which will have an amortising structure and an average maturity of five years. The principal will amortise in nine semi-annual instalments starting on the notes' third anniversary. The sovereign is already talking to a selected group of investors about potential pricing levels for the issue, according to a source, but as customary in private placements no official price guidance is expected before the transaction is priced. While highly...
(Tanzania Daily News 01/02/13)
President Jakaya Kikwete has cautioned some politicians and leaders in the community who did not wish the new constitution process well, asking them to stop being selfish. He also hinted on the various talks he held previously with some political leaders in the country in which they agreed to focus on the wider interests of the public since the opposite will fail the process. "If we (politicians) fail to adhere to all the issues that we discussed in the meetings, we will divide our nation in groups and will fail to get the new constitution we want," he observed. The president was addressing the audience at the final constitution draft presentation ceremony at the Karimjee Hall Grounds in Dar es...
(Bloomberg 01/01/13)
Tanzanian Finance Minister William Mgimwa died yesterday at a South African hospital after a long unspecified illness, the East African nation’s presidency said. Mgimwa, 63, was appointed in May 2012 in a cabinet reorganization, following a report by the national audit office that showed the misuse of public funds, according to the Dar es Salaam-based, state-run Daily News newspaper. Last year, Mgimwa announced the country plans to secure an international credit rating in the 12 months through June, ahead of a Eurobond sale. “I do not have enough words to describe my shock and sadness following reports of the death of Mr. Mgimwa,” said Tanzanian President Jakaya Kikwete, who visited Mgimwa twice in the hospital, according to the statement. Story:...

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