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Tajikistan bond issuance stirs the pot in Central Asia

Low-rated Tajikistan, assigned a “B3” by Moody’s on corruption and governance weaknesses under strongman President Emomali Rahmon, easily sold out a debut US$500 million Eurobond as the original indicative yield dropped 1% to 7%, with the proceeds pledged to relieve chronic power shortages through construction of the world’s tallest dam. Asian fund managers hesitated in […]