KTFA (Walkingstick & MilitiaMan)

PKG: Except nowhere does it say these bonds are being sold in the INTERNATIONAL market….I read this as saying the bonds are being sold within Iraq.   Someone help me here, please…

Don961: The Stock Market Announces The Launch Of National Bond Trading

IRAQ NEWSSECURITIES

In 2018-11-14    Baghdad – conscious

The Iraqi market for securities, announced on Wednesday, the launch of the circulation of national bonds issued by the Central Bank of Iraq category five million dinars.

In a statement received by the Iraqi News Agency (INA), the executive director of the market, Taha Ahmed Abdul Salam, said that “the deposit of the second national bonds issued by the Central Bank of Iraq in April 2017 of five million dinars, due in April 2019 have been achieved and will be traded Within the market “.

“The bonds will be launched on November 18 this year, for the first time in the Iraqi market for securities,” he said   link

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MilitiaMan:  They look to be international as I see it, and they are primarily for those that have very big money ! Not for the little guy.. imo.. That is imo a good thing. Qualified Institutional Buyer’s – (QIB). ~ MM

https://www.investopedia.com/terms/q/qib.asp

This link clearly shows they are International Bonds. They give indices too. What we don’t know is the 1QD relationship to the Indices in relationship to the USD, yet.. imo One would have to be qualified to know that and possibly until they close the sale and it is cleared through settlements. imo  ~ MM

http://cbonds.com/emissions/issue/10915

Issue information

Borrower   Iraq

Bond type-Coupon bonds

Placement method-Open subscription

Par amount, integral multiple-1,000 USD

Nominal of international bonds-1,000 USD

Minimum settlement amount-100,000 USD

Outstanding principal amount-100,000 USD

Amount-2,700,000,000 USD

Outstanding face value amount-2,700,000,000 USD

Date of end placing-**/**/****

Maturity date-**/**/****

Floating rate-No

Coupon Rate-*.**%

Current coupon rate- 5.8%

Day count fraction***

ACI*** (11/18/2018)

Coupon frequency-2 time(s) per year

Interest accrual date **/**/****

Issue is included in calculation of indices

Euro-Cbonds Sovereign Middle EastEuro-Cbonds NIG Sovereign EMEuro-Cbonds NIG Sovereign Middle East

Identifiers
ISIN / ISIN RegS
XS0240295575

ISIN 144A
XS0240295658

Common Code / Common Code RegS
024029557

Common Code 144A
024029565

CFI / CFI RegS
DBFGFR

CFI 144A
DBFNAR

FIGI / FIGI RegS
BBG000056JD5

WKN / WKN RegS
A0GMDT

WKN 144A
A0LMRZ

SEDOL
B3PVNV0

FIGI 144A
BBG000055886

Ticker
IRAQ 5.8 01/15/28 REGS

144A vs Reg S

144-A vs. Regulation S

The ISIN Network’s team can help your company – no matter the country or jurisdiction – with 144A or Regulation S (Reg S) assistance and consulting.

What is the difference between a 144A and Reg S Offering? This is a common question that ISIN.net often receives. ISIN.net can assist with your Reg S and 144A offerings.

Regulation S

Regulation S – often referred to as ‘Reg S’, are bonds or stocks that may not be offered,sold or delivered within the U.S.. Additionally, they may not be on behalf or for the account or benefit of U.S. citizens, unless pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act. Reg S has many restrictions, as can be seen, for United States residents.

Additionally before, bonds sold under Regulation S (Reg S), can only be offered in the U.S. to qualified institutional buyers (QIBs) in reliance on Rule 144A. QIBs are in fact one of the only groups permitted to invest in Reg S offerings.

144A

144A – Rule 144A, often referred to as a 144A offering, is an SEC rule issued in 1990 that modified a two-year holding period requirement on privately placed securities by permitting QIBs to trade these positions among themselves. Prior to this the holding period for such private stock was different. A 144A offering is a U.S. based offering, and typically is considered an alternative to the timely and costly initial public offering.

ISIN and CUSIP and Common Code

Regulation S and 144A Bonds or stocks are generally assigned two separate sets of ISIN and CUSIP securities identification codes. Commonly, Reg S bonds obtain an ISIN number (“International Securities Identification Number”) and what is called a “common code” and are generally accepted for clearance through Euro firms like Clearstream that clear and settle. ON the other hand, 144A bonds get a CUSIP number and an “ISIN” code and are generally applied to, and accepted by DTC for clearing.

Breakdown

A 144A offering is a private placement offered in the United States for U.S. investors and clears through DTCC, usually (but not always)
.
A Regulation S offering is a Bond issued in the Eurobond market for international investors and usually clears through Euro firms like Clearstream (but not always).

Note that after the initial period both series are normally merged mainly in an effort to increase the liquidity of such bonds.

ISIN.net can assist with your 144A or Regulation S Offerings.

Walkingstick:  Tasron»: trillion dinars cost of building the new central bank in Iraq

2 hours ago  Link

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Walkingstick: Al-Rafidain renews its invitation to citizens and employees to obtain “Master Card” from its branches

The Rafidain Bank renewed its call to citizens and employees to visit its branches dedicated to granting electronic cards “Master Card” in Baghdad and the provinces for the purpose of obtaining those cards. “The information office of Rafidain Bank issued an explanation on the issuance of the international MasterCard card in its branches, And citizens.

He said in a statement that “citizens and employees can visit the branches dedicated to the granting of electronic cards in Baghdad and the provinces for the purpose of obtaining those cards,” noting that “the MasterCard card has many of the features used by the holders in the deposit and withdrawal of the mother Him anywhere resides in it. ”

https://www.iraqakhbar.com/1570649

Boxman:  I would assume these international cards would be of great use to Iraqis living outside of Iraq as well as in country citizens and also aid in the transfer of the HLC payments..

KBC123:  I’m not sure citizens qualify for the HCL unless they reside inside Iraq.   But, I’m not sure….  I do think this may be used as a “carrot” to get them to move back if so.
Boxman:  i seem to remember it was for all citizens , inside and outside..
i seem to remember( could be incorrect) the payment will mimic that which is done for Kuwait citizens, which is for both inside and outside the country

I am incorrect..Kuwaiti expats do not receive their share on citizens living outside country

Walkingstick:  SNIPPET

Sun Nov 18, 2018

Iran, Iraq consider using local cash in mutual trade

Iran says it is discussing a plan with Iraq to switch to dinar in trade instead of the US dollar.
The announcement was made by Iran’s Ambassador Iraj Masjedi who said the plan had been devised in response to recent US sanctions that restricted Iran’s access to the greenback.

“Considering the problems that have emerged in dollar-based banking transactions, a joint proposal between Iran and Iraq is using Iraq’s dinar in trade,” said Masjedi.

An alternative plan, he added, would be to use barter mechanisms to carry out imports and exports with Iraq.

https://www.presstv.com/Detail/2018/11/18/580406/Iran-Iraq-consider-using-local-cash-in-mutual-trade

Sunkissed:  This is very interesting as it would drain Iran of their IQD holdings. And it wouldn’t matter if they RI now and RV later, because they would be buying in the same currency that Iraq uses, therefore a dinar is a dinar to both countries!
Also, the plan lets Iran know their days are numbered. When they run out of IQD than what?

MarkPam:  Excellent commentary SK!!  Draining Iran of their IQD leaves only gold to exchange.  Then, when the gold is gone bartering oil at a significantly reduced price in non-USD transactions is all that’s left of value. This is right up the Trump playbook…IMO!.  Now, a dinar being a dinar…look out Iran, your leadership needs to stand down…IMO.

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Iggy:  The longer I live, the more I realize the impact of attitude on life.

Attitude, to me, is more important than facts. It is more important than the past, the education, the money, than circumstances, than failure, than successes, than what other people think or say or do.

It is more important than appearance, giftedness or skill. It will make or break a company… a church… a home. The remarkable thing is we have a choice everyday regarding the attitude we will embrace for that day.

We cannot change our past… we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude.

I am convinced that life is 10% what happens to me and 90% of how I react to it. And so it is with you… we are in charge of our Attitudes.

Charles R. Swindoll