The non-core currency bond markets came into 2006 with renewed optimism. The push into new currencies that dominated the market last year has continued with issuers beginning to embrace a broad range of African currency markets including Botswanan pula, Egyptian pounds, Tanzanian shillings and Namibian dollars. Many have been structured as synthetic transactions as the clearing houses catch up with the new trends, but investors have embraced the opportunity to pick-up yield in a historically low rate environment. Bankers have put significant...Read more