Nigeria raises $2.86bn bonds to fund budget, others

The Nigerian government on Wednesday announced the issuance of $2.86 billion aggregate triple bond series under its Global Medium Term Note Programme.

A finance ministry statement on Wednesday night said the Notes comprise a $1.18 billion seven-year series, $1billion 12-year series and $750 million 30-year series.

Details of the issue show the seven-year series would bear interest at a rate of 7.625 per cent, while the 12-year series would bear interest at a rate of 8.75 per cent, and the 30-year series would bear interest at a rate of 9.25 per cent.

The offering attracted significant interest from leading global institutional investors with a peak combined order book of over $9.5 billion.

Source: Premium Times

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