Government of Iraq Issues $1 Billion Sovereign Bond with U.S. Guarantee
Today, the Republic of Iraq successfully closed on its offering of a $1 billion sovereign bond issuance guaranteed by the United States of America. This loan guarantee underscores the strong and enduring commitment of the United States to support the government of Iraq in this critical moment in the fight against Da’esh. As part of a comprehensive international assistance package – anchored by an International Monetary Fund-supported reform program – this guarantee provides Iraq access to low-cost financing essential to delivering critical services to all the people of Iraq, while laying the foundation for long-term stability and growth through economic and institutional reforms.
Today’s issuance of a $1 billion, five-year Iraqi sovereign bond on international markets is backed by a 100 percent guarantee by the U.S. government of the repayment of principal and interest, and was priced at a coupon rate of 2.149 percent.