Nigeria launches $500 million Eurobond sale to tackle budget deficit, with yields up to 10.625%.

Nigeria has launched its first Eurobond sale in over two years to address its budget deficit, offering $500 million in 6.5-year bonds and a 10-year benchmark bond. Yields for the shorter and longer bonds are 10.125% and 10.625%, respectively. The country aims to raise $2.2 billion from foreign investors, managed by Citigroup, Goldman Sachs, JPMorgan Chase, and Standard Chartered. Additionally, the Debt Management Office has introduced two domestic savings bonds with interest rates of 17.483% and 18.483% for two and three years, respectively. Nigeria's credit ratings range from Caa1 to B-.

December 02, 2024
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