Nigeria Issues $4bn Eurobonds

Nigeria has raised $4 billion through Eurobonds after an intensive two days of virtual meetings with investors across the globe.<br />The Debt Management Office explained that the Order Book peaked at $12.2 billion, which enabled the Federal Government of Nigeria to raise $1 billion more than the $3 billion it initially announced.<br />The DMO says bids for the Eurobonds were received from investors in Europe and America, as well as Asia. There was also good participation by local investors.<br />The Eurobonds were issued in three tranches, details, namely seven years–,$1.25 billion at 6.125 per cent per annum; 12 years -$1.5 billion at 7.375 per cent per annum as well as 30 years -$1.25 billion at 8.25 per annum