Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Investors were eager to tender their bonds despite initial resistance
Inclusion of a variable rate instrument was not acceptable to official creditors
Oil producer's cost of funding has fallen hundreds of basis points since February
Sovereign's Eurobond began about 40bp back of fair value, said leads
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Nigeria made full use of perfect funding conditions this week to print 30 year debt well inside what it paid for a 15 year bond earlier this year, drawing an impressive $11.4bn book in the process. -
Citi has combined its Middle East and Africa (ex-South Africa) investment banking divisions and named a head for the new entity.
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Orders for Nigeria’s 10 and 30 year bond issue had reached $5.5bn on Monday morning. The 10 year portion is likely to take the most orders, but the 30 year tranche is piquing interest, according to deal watchers.
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Afreximbank has activated the accordion feature on a 'Samurai' loan, aimed at Asian banks, it signed in March, increasing the loan amount to $150m. Two new banks have joined the facility.
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Nigeria’s plans to issue the longest ever sub-Saharan African Eurobond outside of South Africa will be a canary in the coal mine for frontier market issuers looking to extend their curves, according to EM analysts. Virginia Furness reports.
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Nigeria is set to test investors next week with the equal longest sub-Saharan African Eurobond after receiving approval to issue up to $5.5bn in its budget for 2017 on Tuesday.
