Algeria: Sonelgaz looks to raise funds


Issue 308 - 25 Sep 2015 | 1 minute read

With the economy under intense pressure from lower oil prices, state utility Sonelgaz is preparing to launch a local bond issue in 2016, finance minister Abderahmane Benkhalfa said on 16 September. The bond would boost the Algiers bourse, Algérie Presse Service quoted the minister as saying. He said he hoped other public companies would follow. Commission d’Organisation et de Surveillance des Opérations de Bourse president Abdelhakim Berrah said Sonelgaz’s investment programme now exceeded $15bn, “which can only be raised with recourse to the capital market”.

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