Published: 27 February 2014

CBZ Holdings is set to issue a record $200 million Diaspora bond in April to be guaranteed by the African Export and Import Bank to replace the current $68 million bond which expires the same month.

The current $68 million three-year Diaspora bond was issued in 2011 by the bank as a way of speeding up economic recovery.

It was floated on the Cayman Stock Exchange.

It is set to expire in April this year, prompting the bank to renew the bond by issuing another $200 million bond.

The bond was arranged and guaranteed by Afreximbank with proceeds expected to be used in infrastructure investment and development.

Speaking at an analyst briefing in Harare yesterday CBZ group chief executive John Mangudya said the development showed the country's capital markets could begin to open up.
- herald

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