DEBT

Tesla closes $2.7 billion mixed offering of shares, debt

Source: Reuters Tesla Inc said on Wednesday it closed its $2.7 billion offering of stock and convertible notes and that it was over-subscribed, giving the electric carmaker much needed cash as it ramps up production. Tesla sold about $860 million in shares and $1.84 billion in debt, after the underwriters exercised their option to buy […]

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Debt gulps 8 percent of East Africa revenues

East African countries are now spending almost eight per cent of their revenues to service $29.42 billion loans borrowed in the past 10 years. They borrowed the money largely from China to grow their transport, communication, manufacturing and energy sectors. Analysts said the loans are becoming a burden, especially given that their impact is yet […]

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Zimbabwean teen kills mum for borrowing money without repaying

A Zimbabwean teenager, Tinashe Tidziwani, 19, has allegedly murdered his mother after she was unable to repay a 50 cent loan, he had given her earlier. The body of Tidziwani’s mother was discovered by her sister-in-law two days after she was murdered. She told neighbours about her discovery and that was when she was informed about […]

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NIGERIA: ECONOMIST CAUTIONS FG ON N21.73TRN DEBT.

 An economist, Prof. Sheriffdeen Tella, on Monday described the nation’s debt stock of N21.73 trillion as worrisome and urged the Federal Government to stop external borrowing. Tella, a professor of Economics at Olabisi Onabanjo University, Ago-Iwoye, Ogun, expressed his views in an interview with the News Agency of Nigeria (NAN) in Lagos. He said that […]

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