Nairametrics| Nigerian successfuly sold its much talked about $1 billion Eurobond on Thursday. The bond sale was said to be oversubscribed by as much as 8:1 with about $7.9 billion orders for a sale that was just $1 billion.
The Notes represent the Republic’s third Eurobond issuance, following issuances in 2011 and 2013. READ MORE- https://t.co/TEbpq2v9NO https://t.co/Lc9n1fEyhK
— Nigeria Insights (@InfoInsightsNG) February 9, 2017
The bonds were also priced at about 7.875% lower than the 8% expected by analysts. Government officials, led by Kemi Adeosun, embarked on a 4 city road show in the UK and US as it pitched the Eurobond to risk wary investors.
Nairametrics now understand that the government will be listing the paper on the Nigerian FMDQ OTC Securities Exchange and the Nigerian Stock Exchange, giving local and foreign investors who did not partake in the primary sale the opportunity to buy.
Nigeria plans to raise as much as $30 billion in new foreign loans by 2018 as the government gears up for massive infrastructural development plans.
