
The minister of Finance, Kemi Adeosun has announced the successful pricing of Nigeria’s 4th Eurobond. Yesterday, the minister declared open, the bond, which is said to be a 10-year bond at a yield of 6.5% and a 30-year bond at a yield of 7.625%.
I'm pleased to announce the successful pricing of Nigeria's 4th Eurobond—a 10-year bond at a yield of 6.5% and a 30-year bond at a yield of 7.625%.
Proceeds will be used to fund approved budgetary expenditures, as well as for the refinancing of domestic debt. https://t.co/fxNgedUwMH
— Kemi Adeosun (@HMKemiAdeosun) November 20, 2017
“Nigeria floats US$3bn dual-tranche bond, comprising a US$1.5 billion 10-year series and a US$1.5 billion 30-year series. The 10-year series will bear interest at a rate of 6.5%, while the 30-year series will bear interest at a rate of 7.625%,” the minister said.
The pricing of the notes was determined following a roadshow led by the Finance Minister, Minister of Budget and National Planning, Udoma Udo Udoma, the CBN Gov Godwin Emefiele, the Director-General, debt management office, Ms. Patience Oniha, and Director-General, Budget Office of the Federation, Mr. Ben Akabueze.
The offering is expected to be closed on/about 28 Nov 2017,subject to satisfaction of various customary closing conditions. When issued,the Notes will be admitted to the official list of the UK Listing Authority & available to trade on the London Stock Exchange’s regulated market.