Falling Energy Revenues Force Algeria to Plan $2.3-Billion Bond   ...Middle East

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Falling Energy Revenues Force Algeria to Plan $2.3-Billion Bond  
source : OILPRICE ( Middle East ) () 491
Declining revenues from oil and gas amid lower prices this year have prompted the Algerian government to consider a bond issue to raise the equivalent of $2.3 billion. Algeria’s government plans a seven-year Islamic bond issue, the so-called sukuk, of 297 billion Algerian dinars, or $2.3 billion, broadcaster Asharq TV reports, as quoted by Bloomberg. The issue will be offered to Algerian nationals in and outside Algeria; foreigners are not allowed in the subscription period beginning in early November. Algeria, an OPEC member and one of the…

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