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

Copyright The Financial Times Limited 2018. All rights reserved.

Comments have not been enabled for this article.