Ethiopia completes $1 bln debut Eurobond, says oversubscribed

ADDIS ABABA (Reuters) - Ethiopia said on Friday it had completed raising $1 billion with its debut Eurobond with a term of 10 years and coupon of 6.625 percent, adding that the offer had been oversubscribed. Ethiopia is the latest African sovereign to receive a strong response on its first foray into the international debt markets. Investors have been eyeing Africa's sturdy growth rates and Ethiopia's economy is now expanding by about 9 percent a year. ...