Business / Companies
IDBZ to issue $54m bond to finance TelOne and ZPC
07 Oct 2013 at 22:25hrs | Views
THE Infrastructure Development Bank of Zimbabwe (IDBZ) has plans to issue a $54 million bond to finance expansion programmes at State-owned telecoms firm TelOne and the Zimbabwe Power Company (ZPC) at the beginning of next year, a company official has said.
Speaking at the official opening of the Zimbabwe Development Finance School in Harare yesterday, IDBZ chief executive officer Charles Chikaura said last year the bank issued $30 million bonds and this year it was going to return to the market to raise $54 million.
The IDBZ issued the $30 million bonds on October 29 2012 to fund the retrofitting of prepaid meters in homes and small institutions countrywide installed by the Zimbabwe Electricity Transmission and Distribution Company.
"We are planning to go back to the market in the New Year for an amount of $54 million for TelOne and ZPC," Chikaura said.
Chikaura said the State-owned company TelOne requires money for the fibre optic project and ZPC requires funding for the Kariba South project.
Speaking at the official opening of the Zimbabwe Development Finance School in Harare yesterday, IDBZ chief executive officer Charles Chikaura said last year the bank issued $30 million bonds and this year it was going to return to the market to raise $54 million.
The IDBZ issued the $30 million bonds on October 29 2012 to fund the retrofitting of prepaid meters in homes and small institutions countrywide installed by the Zimbabwe Electricity Transmission and Distribution Company.
"We are planning to go back to the market in the New Year for an amount of $54 million for TelOne and ZPC," Chikaura said.
Chikaura said the State-owned company TelOne requires money for the fibre optic project and ZPC requires funding for the Kariba South project.
Source - southerneye
