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Saturday, August 8, 2020

Investors Bullish for Nigeria’s High-Yielding Debt as Buhari Push Lawmakers to Approve $3.3B Eurobond Sale

Nigerian President Muhammadu Buhari has asked the National Assembly to approve the sale of $3.3 billion in Eurobonds, marking the potential return of Africa’s top oil producer to debt markets after staying out last year. Finance Ministry spokesman Yunusa Abdullahi told Bloomberg a road show...

DMO to raise balance of 2019 borrowing from Eurobond

The Debt Management Office (DMO) says it will raise the balance of the 2019 borrowings from Eurobonds after exhausting the options of borrowing from multilateral and bilateral bodies at cheap rate. Reacting to reports that it has no plans to issue Eurobonds as part of...

Nigeria has no plans to go to eurobond market this year

LAGOS, June 18 - Nigeria has no plans to return to the eurobond market this year, after a sixth outing in November raised $2.86 billion, the head of the debt office said on Tuesday. Nigeria approved a three-year plan in 2016 to borrow more...

N6 bln bond inflow, an indication of Investors confidence in Nigeria’s economy

THE successful conduct of the general elections is rubbing off positively on investments, with the inflow of over $6 billion into the local bond market. Central Bank of Nigeria (CBN) Governor Godwin Emefiele described the foreign capital inflows to the bond market as an indication...

Nigeria’s Sukuk bond oversubscribed, receives N132bn for N100bn offer

The federal government received over N132 billion subscriptions from 2,073 investors for its N100 billion 7-year 15.74 per cent Sukuk offer, the Debt Management Office (DMO) has said. The DMO, in a statement in Abuja on Saturday, announced the result and added that the bond...

OTC FGN Eurobond Yields Rise amid Declining Crude Oil Prices…

In the just concluded week, the value of the FGN Eurobonds traded at the international capital market tanked for all maturities tracked amid decline in global crude oil prices and Nigeria’s external reserves – the 10-year, 6.75% JAN 28, 2021 bond, the 10-year, 6.38%...

OTC FGN Eurobond Yields Rise amid Sustained Bearish Activity…

In the just concluded week, the value of the FGN Eurobonds traded at the international capital market tanked for all maturities tracked amid sustained bearish activity – the 10-year, 6.75% JAN 28, 2021 bond, the 10-year, 6.38% JUL 12, 2023 note and the 15-year,...

OTC FGN Bond Yields Rise amid Sustained Bearish Activity…

In the just concluded week, the value of FGN bonds traded at the over-the-counter (OTC) segment fell for all maturities tracked amid sustained sell pressure: the 20-year, 10% FGN JULY 2030 debt, 10-year, 16.39% FGN JAN 2022 debt, 7-year, 16.00% FGN JUN 2019 debt...

Nigeria appoints Citigroup, Standard Chartered as joint manager for $2.868bn Eurobond

Separate $82.5 million to be raised to refinance previous bond Senators want government to quickly proceed with issuance The Federal Executive Council (FEC) has approved six transaction parties to advise it on the issuance of $2.868 billion in...

Nigeria seeks IMF’s $2.8bn Eurobond to fund capital projects

Eyes privatisation of more national assets Despite its excruciating debt service burden that has already drawn the red flag of the International Monetary Fund (IMF) and other multilateral finance institutions, the Federal Government, yesterday, confirmed it would soon be heading to the international financial market...
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