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Frontier bond sales poised for buoyant year-end

Pakistan and Kenya follow Ethiopia by announcing debt sale plans

Some of the world’s riskiest government borrowers are embarking on a last minute debt-raising spree before the markets shut for the winter break, extending a record-breaking year for so-called frontier bond sales.

Frontier market countries including Kenya, Ethiopia and Pakistan-each rated at least four notches below investment grade-all announced debt sale plans Tuesday, seeking to benefit from still relatively low interest rates and persistent investor demand for higher yielding debt.

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