DAR ES SALAAM, July 24 – Tanzania is considering issuing a Eurobond as part of plans to meet its external borrowing needs, with Finance Minister Khamis Mussa Omar saying the government will proceed if market conditions are favourable.
Speaking at a media briefing in London, Omar said a Eurobond remains “an option on the table” as the country looks to raise funds to cover external financing needs estimated at about $1 billion.
The proposed Eurobond would complement other funding sources, including concessional loans and Tanzania’s first offshore bond denominated in Tanzanian shillings.
The local currency bond is scheduled to be launched at the London Stock Exchange on Friday in partnership with the International Finance Corporation (IFC), the private sector lending arm of the World Bank Group.
Meanwhile, a government adviser who also addressed the briefing said any Eurobond issued by Tanzania would have a maximum size of $500 million.
The government has not announced a final decision on the offering, saying the timing will depend on conditions in the international debt market.