SA passes first post-Moody's test with record bond auction demand
The country's ability to attract bond investors comes at a high price as yields shoot up
31 March 2020 - 12:25
SA has passed its first post- downgrade test in the markets with flying colours.
The country’s offering of bonds worth R4.53bn on Tuesday attracted record demand, with bids exceeding what was on offer by more than four times, according to Bloomberg data, as yields that are among the highest in emerging markets proved too hard to resist for some investors...
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