Experimental feature

Listen to this article

00:00
00:00
Experimental feature

After a year of setbacks in its attempts to tap international bond markets, Nigeria has sold a $1bn eurobond.

The deal was priced at a yield of 7.875 per cent and was approximately 8 times oversubscribed, the government said in a statement.

“Nigeria is delighted to have successfully priced its third Eurobond issue. We have successfully extended the tenor of our borrowing programme in the international capital markets to 15 years, at a price that reflects belief in the quality of Nigeria’s cash flows and government,” said Debt Management Office director General Abraham Nwankwo

Get alerts on Nigeria when a new story is published

Copyright The Financial Times Limited 2018. All rights reserved.

Comments have not been enabled for this article.

Follow the topics in this article