Funds to welcome Nigeria to Eurobond fold
Nigeria has mandated Citigroup and Deutsche Bank to arrange its long-awaited $500m 10 year Eurobond, finally satisfying a market that has been waiting for the deal since 2008. At that time, the hot topic in emerging market debt was the expected flood of issuance from sub-Saharan Africa, starting with sovereigns.
But the credit crunch and a sudden and prolonged market aversion to risk, meant that those deals never came to light.
For many bankers, the time is now right. "This deal is going to go great guns," said one emerging market syndicate official away from the deal. "If
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