Nigeria ‘pays through the nose’ for $1bn return
Emerging market bankers scrutinised Nigeria’s deal this week for insight into the clearing price for a new issue in volatile conditions. Two bankers away from the deal put the new issue premium for both tranches as high as 60bp, though another put it as low as the mid-30s. Nick Samara, a DCM official at Citi, said the premium came in at 30bp.
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