South Africa issues first sovereign infrastructure bond to fund development projects

CAPE TOWN, Dec. 9 (Xinhua) -- South Africa's National Treasury has raised 11.795 billion rand (about 692 million U.S. dollars) under the country's first Infrastructure and Development Finance Bond, a major step in boosting funding for priority public infrastructure.

According to a statement issued on Tuesday by the National Treasury, the auction attracted strong market interest, with bids exceeding 26 billion rand and achieving a 2.2-times subscription rate.