Nigeria’s FGN Eurobonds Yields Spikes Above 8% as of February 2, 2024



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In the latest developments in the financial markets, the Federal Government of Nigeria’s (FGN) Eurobonds continued to trade with yields above 8%, reflecting a resilient stance in the face of market dynamics. As of the week ending February 2, 2024, the yields on various FGN Eurobonds demonstrated noteworthy movements.

Here is a summary of the key data for selected FGN Eurobonds:

1. 7.625% Bond maturing on 21-NOV-2025:
– Issue Date: 21-Nov-18
– Time to Maturity (TTM): 1.80 years
– Price (N): 97.98
– USD Δ: -0.10
– Yield: 8.9%
– PPT Δ: 0.08

2. 6.50% Bond maturing on NOV 28, 2027:
– Issue Date: 28-Nov-17
– Time to Maturity (TTM): 3.82 years
– Price (N): 90.95
– USD Δ: 0.42
– Yield: 9.4%
– PPT Δ: -0.13

  1. 6.125% Bond maturing on SEP 28, 2028:

– Issue Date: 28-Sep-21
– Time to Maturity (TTM): 4.66 years
– Price (N): 87.76
– USD Δ: 0.85
– Yield: 9.4%
– PPT Δ: -0.24

4. 8.375% Bond maturing on MAR 24, 2029:
– Issue Date: 24-Mar-22
– Time to Maturity (TTM): 5.14 years
– Price (N): 94.68
– USD Δ: 1.00
– Yield: 9.7%
– PPT Δ: -0.26

5. 7.143% Bond maturing on FEB 23, 2030:
– Issue Date: 23-Feb-18
– Time to Maturity (TTM): 6.06 years
– Price (N): 88.16
– USD Δ: 0.86
– Yield: 9.8%
– PPT Δ: -0.20

The remaining bonds, maturing from 2031 to 2051, also displayed significant yield levels, ranging from 10.1% to 10.4%, indicating investor expectations of higher returns in the current market environment.

This data suggests that FGN Eurobonds remain an attractive option for investors seeking relatively higher yields, even as market conditions evolve. Investors and analysts will closely monitor these developments, considering the potential implications for Nigeria’s debt market and broader economic outlook.

Godwin Okafor
Godwin Okafor
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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