Thursday 30th July 2015
NEWS TICKER, Thursday, July 30th:Standard & Poor's Ratings Services said today that it has assigned its 'B' long-term issue credit rating to the senior unsecured Eurobond issued by the Republic of Zambia (B/Stable/B). The bond issue totals $1.25bn and carries an interest rate of 8.97%. Coupon payments will be made bi-annually, and principal repayments will take place in three equal payments, due in 2025, 2026, and 2027. The bond will be Zambia's third international placement following its debut $750m bond in September 2012, at 5.375%, and a $1bn bond issue in April 2014 at 8.5%. Zambia will mainly use the proceeds of the eurobond for budgetary and project financing – ESMA, the European markets regulator has published responses to its consultation on virtual currencies and distributed ledger technology. The responses can be viewed on the regulator’s website -The second phase of Zambia's $828m Maamba power station project is close to being finalised according to trade press reports. The project sponsor is Maamba Collieries Limited (MCL), the largest coal mining company in Zambia. In 2011, MCL appointed SEPCO Electric Power Construction Corp (China), a large supplier of power generating plants, substations, and transmission lines, for implementation of the power project. The power will be sold to Zambia Electricity Supply Corporation (ZESCO) Limited. The 300 MW plant is planned for operation by 2016.

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Eurex concentrates commodity trading on one platform

Tuesday, 10 June 2014
Eurex concentrates commodity trading on one platform The European Energy Exchange (EEX) and Eurex Exchange have decided to concentrate trading in agricultural derivatives within EEX, in which Eurex holds a majority stake of 63%.

The European Energy Exchange (EEX) and Eurex Exchange have decided to concentrate trading in agricultural derivatives within EEX, in which Eurex holds a majority stake of 63%. 

The move is set to give customers access to a large and standardised offering of commodity derivatives contracts via one platform. 

Agricultural derivatives currently tradable on Eurex Exchange will be offered on EEX from 2015. Eurex Exchange’s product portfolio comprises futures on potatoes, skimmed milk powder, whey powder, butter, hogs and piglets. All contracts are quoted in Euro and are settled in cash. Market indices which reflect the underlying physical transactions are used as reference prices.

“EEX has comprehensive expertise in trading in energy and commodity derivatives”, says Andreas Preuss, chief executive officer of Eurex. “The transfer of the Eurex agricultural derivatives segment to our subsidiary EEX is an important step towards establishing EEX as the commodity exchange within Eurex Group.”

“With the introduction of agricultural products, we continue our strategy of expanding our offering to further asset classes”, adds Peter Reitz, Chief Executive Officer of EEX. “In this context, trading participants can benefit from a complementary product offering of commodities, such as power, gas or fertilisers for example, on one platform and the further expansion of the agricultural product portfolio.

Over the next months, EEX and Eurex will work together with market participants, clearing members, brokers and final consumers to ensure a smooth transition of trading.

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