Ethiopia picks three banks for debut US dollar Eurobond
LONDON, Oct 16 (IFR) - The Federal Democratic Republic of Ethiopia has picked BNP Paribas, Deutsche Bank and JP Morgan to arrange a debut US dollar-denominated Eurobond, according to sources. The bond is likely to have a minimum 10 year tenor, according to a source. The banks declined to comment. Ethiopia hopes to issue a bond either by the end of this year or early 2015, finance minister Sufian Ahmed Beker told IFR earlier this month. Ethiopia is rated B1 by Moody's and B by both Standard & Poor's and Fitch Ratings. Source: www.reuters.com