UPDATE 1-Iraq will seek $5 billion bond issue, still negotiating terms -minister

April 15, 2015 10:28 PM

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WASHINGTON, April 15 (Reuters) - Iraq has decided to issue $5 billion in international bonds and is negotiating the terms, Iraqi Finance Minister Hoshyar Zebari said on Wednesday, in an effort to relieve the pressure of low oil prices on the government's finances.

"We are negotiating with Citibank and Deutsche Bank on that," Zebari said at a meeting with reporters in Washington. "We are meeting them here in Washington, but we have a green light from the government that we need that."

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