first palestinian corporate bonds issued
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

First Palestinian corporate bonds issued

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice First Palestinian corporate bonds issued

RAMALLAH - AFP

Palestinian investment firm PADICO announced on Tuesday the Palestinian territories\' first issue of corporate bonds, worth $70 million (49 million euros). At a press conference in Ramallah, PADICO said it was issuing 7,000 five-year bonds, which will be privately placed and neither traded nor listed on the Palestinian stock exchange. The investment company, which is publicly traded, focuses on investment in the Palestinian economy, and has interests in infrastructure, real estate and tourism projects. Chairman Munib Masri hailed the issue as a sign of the firm\'s \"commitment to investing in Palestine and ... confidence in the local economy.\" \"We are taking the long view on things and hope to raise money through our corporate bonds to finance additional long-term investments; that is our vision and that is our strategy for Palestine,\" he said in a statement. Masri acknowledged the \"political risk\" involved in investments in the Palestinian territories, but said the firm had maintained a \"sustained track record of commercial achievements.\" In February, PADICO declared profits of $38.1 million for 2010, a 22 percent increase in overall revenue. Palestinian Prime Minister Salam Fayyad welcomed the bond issue, saying it showed the progress made by the Palestinian economy. \"This is a happy and important occasion and a significant step towards further strengthening capacity and encouraging investment in Palestine,\" he said. Maher al-Masri, the chairman of the Palestine Capital Markets Authority, said he hoped the issue could encourage the Palestinian private sector to diversify its financing options, breaking its dependence on bank loans. \"We are hopeful that other competent and solid companies in Palestine will follow suit and issue financial instruments that will augment the variety of financial intermediation tools in Palestine, and will also improve our credit standing as a financial market,\" he said. PADICO said each bond would be issued at a par value of $10,000 with a minimum subscription of 10 bonds per subscriber. The five-year bonds will carry an annual fixed interest rate of 5.0 percent for the first 30 months, and a variable annual interest of between 5.0 and 6.5 percent for the remaining 30 months.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

first palestinian corporate bonds issued first palestinian corporate bonds issued

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

first palestinian corporate bonds issued first palestinian corporate bonds issued

 



GMT 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 11:03 2018 Tuesday ,23 January

No end to eyesores at Taj Mahal

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling

GMT 04:27 2016 Thursday ,15 December

UAE Ambassador to Cuba meets Secretary General of ACS

GMT 03:40 2016 Wednesday ,15 June

Mourning North Ireland battle for Euro survival

GMT 12:52 2017 Tuesday ,24 October

Mattis to discuss North Korea threat on Asia trip

GMT 17:15 2017 Friday ,15 September

Indian doctor stabbed to death in US, patient arrested

GMT 11:02 2017 Saturday ,27 May

UAE rulers greet nation's leaders on Ramadan

GMT 00:48 2011 Tuesday ,18 October

Exile of prisoners \'a war crime\'

GMT 08:45 2017 Monday ,27 November

Greenpeace slams Indonesia palm oil industry

GMT 08:11 2017 Monday ,16 October

Tariq happy for “Between Two Worlds” success

GMT 20:38 2017 Saturday ,09 September

Netanyahu's wife faces possible graft trial

GMT 14:08 2017 Monday ,11 September

Bahraini-Indonesian relations discussed

GMT 20:58 2016 Tuesday ,22 November

ADB, AIIB Approve $227m Loan for Bangladesh

GMT 10:34 2017 Wednesday ,04 January

IOF demolish Palestinian structures east of Nablus
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice