Nigeria’s 4th Eurobond undergoes successful pricing

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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%.

“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.

 

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