How PNG will build on its international bond market debut

Deputy prime minister says the country has overturned expectations about a misunderstood credit following the successful completion of a $500 million deal.

It took three failed attempts spanning nearly two decades. But the Independent State of Papua New Guinea’s PNG successful completion of a debut international bond deal at the end of September represents a remarkable achievement for a country that is far more used to setbacks than success.

And no one has been more pleased than the country’s deputy prime minister and treasurer, Charles Abel, who led the roadshow team ahead of the pricing of a $500 million 10-year transaction on September 27.

“An inaugural bond issue is a very important milestone in any country’s financial history, but particularly for us since this has been talked about for...

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