{{Copperbelt Energy, which supplies power to Glencore Xstrata and Vedanta Resources in Zambia, has revealed plans to raise US$150mn through loans to expand business in Africa and finance existing debt.}}<\/p>\n
Copperbelt Energy corporate development managing director Michael Tarney said that loans of as much as US$100mn from German and Dutch development-finance institutions will be completed in three months and will have 10-year maturities.<\/p>\n
The debt funding deals will be carried out with Dutch development bank FMO and German lender Deutsche Investitions- und Entwicklungsgesellschaft
\nCopperbelt Energy will also try and raise about US$50mn in a rights offer this year.<\/p>\n
Tarney said that the company has tested the market for a bond sale two to three months ago, and concluded that a debt sale will be more expensive than development-finance loans and its maturity will also be shorter.
\nBonds may be sold at a later date, he noted.<\/p>\n
{africanreview}<\/p>\n","protected":false},"excerpt":{"rendered":"
{{Copperbelt Energy, which supplies power to Glencore Xstrata and Vedanta Resources in Zambia, has revealed plans to raise US$150mn through loans to expand business in Africa and finance existing debt.}} Copperbelt Energy corporate development managing director Michael Tarney said that loans of as much as US$100mn from German and Dutch development-finance institutions will be completed […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-9385","post","type-post","status-publish","format-standard","hentry","category-business","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":null,"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/9385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=9385"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/9385\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=9385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=9385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=9385"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=9385"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=9385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}