Government to issue foreign currency denominated bonds to raise about 400 billion golles in foreign exchange this year

As the Kingdom of Mount Vema prepares to start its new financial year 2022/2023 from September 1st with a clear economic plan for the next 4 decades, the Government has confirmed that on the 31st of August next week, Mount Vema will be issuing 10-, 20-, and 30-year foreign currency denominated bonds to raise about 400 billion golles in foreign exchange this year.
 
The sovereign debit will be used mainly to support the construction of infrastructure projects in Mount Vema to pay for imports of needed building materials, goods and services during construction, as well as general government spending for the next 4 decades.
 
This is a special debit, according to the reserve bank, because the periodic interest it will pay is more than the typical 5% paid annually for a standard MVG-Bond.
 
The special debit (foreign currency denominated bonds) will make coupon payments (period interest) in US dollar, Euro, British Pound, and other leading currencies including the Chinese Yuan, the Japanese Yen, and the Swiss Franc as follows:
 
10-year bond:  8% yield (will pay twice a year – June 28th and December 28th )
20-year bond:  12% yield (will pay twice a year – June 28th and December 28th )
30-year bond:  15% yield (will pay twice a year – June 28th and December 28th )
 
The Debit will be issued on Wednesday the 31st of August, and will be available from the government with both competitive or non-competitive bid. Although most of it is expected to be sold privately by the Treasury of His Mount Vema Majesty's Government to various types of entities, such as trusts, estates, partnerships, including individuals, organizations, foreign governments, and corporate investors.
 
Most deals are likely to be closed privately because when this type of debit is sold publicly, investors tend to use rating agencies to assess credit risk. However, because Mount Vema sees no significant risk in its economic plan for the next 3 to 4 decades, it has not yet designated any international rating agencies as its recognized statistical rating organization and is not likely to do it any time soon.