Millionday [if the bonds will be in 4th qtr…will the rate possibly change prior to then?]
10
Jul
Millionday Article quote: “The Iraqi government plans to issue local bonds worth five billion dollars, starting from the last quarter of this year…“ “The bonds will be issued in US dollars in stages based on investor demand, and investors will choose between receipt of an asset at maturity in dollars or dinars, but at a better price than the market price.”
THEY ARE GIVING A CHOICE OF RETURN IN EITHER US DOLLAR OR IRAQI DINAR — WOW — AND ANNOUNCED THAT THE MATURITY WILL PRODUCE A HIGHER RETURN THAN –MARKET PRICE. CBI WILL DETERMINE IF THE LOANS ARE GIVEN OUT AT A NEW VALUE OR NOT —
THE DATE OF A CHANGE IN RATE HAS NOT BEEN RELEASED…IT CAN BE CHANGED AT ANYTIME. WE DONT KNOW WHEN BUT IT DOES NOT MEAN IT MUST WAIT UNTIL THE FOURTH QUARTER. […could this be that the Domestic payouts will be in Dinar, and if you were International you could get USD?] YES… THEY STATED THAT IT WILL MATURE AT A HIGHER AMOUNT THAN THE MARKET PRICE…SO THE BONDS WOULD BE ON THEIR MARKET AT THAT TIME…HUGE CLUE FOR ME. […would there be any rational reason to give the loans out at the 1166 rate?] ACCORDING TO MY LOGIC AND ECONOMICS — IT WOULD NOT MAKE MUCH SENSE FOR IRAQ OR THE ENTERPRISE... [post 2 of 2]
