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Farooq

Posts Tagged "eurobond"

HomePosts Tagged "eurobond"

Nigeria’s oversubscribed Eurobond on Wednesday showed that investors will flock to the country’s dollar assets. But when it comes to naira ones, they’re staying well away. Nigeria got around $3 billion of orders for its $500 million of notes, according to a person familiar with the matter, who asked not to be identified. High demand […]

By Felix Onuah and Chijioke Ohuocha ABUJA/LAGOS, March 29 (Reuters) – Nigeria raised $500 million by issuing a 15-year Eurobond on Wednesday with a yield of 7.5 percent, the finance ministry said, helping it plug a huge budget deficit in Africa’s largest economy. To revive the economy, which slipped into recession last year for the […]

By Chijioke Ohuocha LAGOS, March 1 (Reuters) – Nigeria plans to target retail investors with a new savings bond that will go on sale this month, the Debt Management Office said on Wednesday. Two- and three-year maturities will be offered, with interest paid quarterly. The interest rate has yet to be announced, but the debt […]

• As trading on bond commences on LSE platform The International Markets Unit – Head of Middle East, Africa and South Asia, London Stock Exchange, (LSE), Ibukun Adebayo, has described the success of Nigeria’s bond listing as a strong indication of international investors’ interest in building exposure to the nation’s economy. Adebayo said this during […]

Fitch Ratings has assigned Nigeria’s $1 billion 15-year 7.875% senior unsecured notes a final rating of ‘B+’. The final rating replaces the expected rating that Fitch assigned on 6 February 2017. According to a statement, the rating was in line with Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’, which has a Negative Outlook. […]

Ifeanyi Onuba, Abuja After series of delays, the Federal Government on Thursday released the pricing of its $1bn Eurobond, disclosing that the bond was approximately eight times oversubscribed with orders in excess of $7.8bn. The subscription rate was contained in a statement by the Director of Information in the Federal Ministry of Finance, Mr. Salisu […]

* Nigeria in roashow to sell $1 bln Eurobond * FX risk, oil production weigh on discussion – source * Bond likely to price above 7 pct yield this week (Adds source on roadshow meetings) By Camillus Eboh and Chijioke Ohuocha ABUJA/LAGOS, Feb 8 (Reuters) – Nigeria’s parliament has approved the government’s request to sell […]

LAGOS Dec 7 (Reuters) – Nigeria has appointed Citigroup , Standard Chartered Bank and Stanbic IBTC Bank to manage a planned $1 billion Eurobond sale and hopes to start the issuance process in January, Finance Minister Kemi Adeosun said on Wednesday. Citi, Standard Chartered Bank and Stanbic IBTC would manage any follow-up Eurobond issuance for […]

LAGOS Oct 27 (Reuters) – Nigeria has $500 million of commitments from its planned $1 billion Eurobond it intends to issue before the end of the year and any decision to increase the size of the offer will depend on pricing, Finance Minister Kemi Adeosun said on Thursday. “At the moment am focused on the […]

By Karin Strohecker LONDON Oct 21 (Reuters) – Nigeria expects to sell a Eurobond worth around $1 billion before the end of the year and is in the process of appointing managers for the sale, Finance Minister Kemi Adeosun said on Friday. The Eurobond is part of Nigeria’s plans to borrow a total of 1.8 […]