Market News
Nigeria sells $2.35 billion of Eurobonds, celebrates strong demand - REUTERS
BY Elisha Bala-Gbogbo
ABUJA, Nov 6 (Reuters) – Nigeria sold $2.35 billion of 10-year and 20-year Eurobonds on Wednesday, attracting its largest-ever order book of more than $13 billion, its government said in a statement.
Patience Oniha, director-general of the Debt Management Office, said late on Wednesday: “Nigeria’s ability to access the Eurobond Market to raise long-term funding needed to support the growth agenda of President Bola Ahmed Tinubu is a major achievement.”
The debt office said the 10-year bonds were sold at 8.6308% and the 20-year bonds at 9.1297%, below initial pricing guidance.
The proceeds of the Eurobond issuance will be used to finance the 2025 fiscal deficit of Africa’s most populous nation.
