The Nigerian government has unveiled its Series I Domestic dollar-dominated Bond with a plan to raise at least $500 million from local and international investors. According to a recent Auction circular, the government targets $1 billion in subscriptions in this round of auction.
Meanwhile, this auction comes at a time when five of Nigeria’s Eurobonds were ranked among the worst performers in the Bloomberg index of emerging and frontier sovereign debt. A detailed breakdown of the bond program showed that it has a total size of up to $2.0 billion, which can be upsized depending on the issuer’s discretion. The bond is five-year tenured, offering a medium-term investment opportunity for investors looking for stable returns.
Accordingly, it was also stated that the bond’s coupon rate is benchmarked to comparable FGN Eurobonds yields, ensuring competitive returns that align with international market standards. Interest payments will be made semi-annually, providing regular income streams to investors and enhancing the bond’s appeal. The bond offers bullet repayment at maturity in US dollars, ensuring full repayment of the principal amount at the end of the five-year term.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigerian football star, Olarewaju slams Pastor Adegboyega ₦1bn lawsuit, seeks divorceNigerian football star, Kayode Olanrewaju, has slammed a ₦1 billion lawsuit on controversial UK-based Pastor, Tobi Adegboyega for emotional trauma, financial loss and loss of goodwill occasioned by his alleged adulterous affair with his wife Dora Ezinne Kayode, and asking the court for an official divorce.
Read more »
Why Nigerian Britons did well in UK polls —Hilaria Asumu JP, British Nigerian politicianA Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
Read more »
Start-ups: Africa gets $1bn boost as Timbuktoo fintech hub debuts in NigeriaThe Nation Newspaper Start-ups: Africa gets $1bn boost as Timbuktoo fintech hub debuts in Nigeria
Read more »
AfDB approves $500m loan to support Nigeria’s energy transition programmeAfDB has approved a loan of $500 million to Nigeria to finance the first phase of the economic governance and energy transition support programme.
Read more »
CrowdStrike outage to cost Delta $500mA global computer outage in July that stranded thousands of travellers will cost Delta Air Lines $500 million, the company's CEO, Ed Bastian
Read more »
UNILORIN wins JAMB’s ₦500m merit awardUNILORIN has received ₦500m for winning the National Tertiary Admissions Performance-Merit Awards for 2021/2022 and 2022/2023 sessions
Read more »