Dollar Hunt

Leading global investment banks have shown interest in raising 350 million dollars for the government in the international financial markets.
The Central Bank, which requested for proposals form potential lead arrangers, said that nine parties had responded by Friday evening.rn

rnThe proposals will go before an evaluation committee, which is expected to announce a shortlist within weeks.rn

rnExpressions have been received from Solomon Smith Barney backed by Citi Group. HSBC, J P Morgan, Goldman Sachs and Standard Charted. rn

rnGerman banking giants Deutsche bank and Commerz Bank have also submitted proposals to raise the dollars.rn

rnJapanese investment banks Daiwa and Nomura securities have also expressed interest.rn

rnCentral bank officials say that still more expressions of interest could be expected in the coming weeks.rn

rnAnalysts point out that the dollar funds will help the country establish a healthy mix in its debt stock.(LBR)rnrn