Has the $450 million Bond Sunk?

Has the government's half a billion-dollar bond offering failed? Today the Prime Minister Hon. Said Musa confirmed to us that government might have to withdraw the offering for the time being as they may be unable to float it for less than 10%. The decision to maintain or withdraw the offering will be made tomorrow, after finance experts analyze the effect of this afternoon's decision by the U.S. Federal Reserve Chairman Alan Greenspan to raise short-term interest rates by a quarter point. Once it is determined how that will affect the offering, an announcement is expected by Friday.