Sonatrach plans new bond

05 December 2003
State-owned energy company Sonatrachis to issue an AD 5,000 million ($72 million), five-year bond. Details of the bond, along with the identity of the financial institution handling it, will be announced in the week beginning 8 December. The bond is expected to be issued in early 2004.

Funds raised by the issue will be used on research and development projects. Sonatrach launched its first five-year bond in 1997. Subscription was expected to be AD 5,000 million ($72 million) but was raised to AD 12,000 million ($172 million) after heavy demand from investors.

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