Nigeria Is Selling Its Longest Dollar Bond

Nigeria plans to issue a Eurobond of at least $2.5 billion on Monday, says Kevin Daly, a money manager at Standard Life Aberdeen, who attended an investor meeting with officials from the nation in London Thursday.
 
Nigerian delegation included Finance Minister Kemi Adeosun, central bank Governor Godwin Emefiele, head of the Debt Management Office, Patience Oniha, and Ben Akabueze, head of the budget office

  • The nation is selling 10Y dollar bonds at 6.75% area and 30Y bonds at 7.875% area
 
  • It plans to issue at least $2.5b but may increase the transaction size depending on demand from investors
 
  • The country has already tapped the market twice this year, raising $1.8b of notes due in 2022 and 2032

 

Source: Bloomberg

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