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At London investor day, supranational reveals deals and plans for new funding and investments, including fully African project financing
The company is the only corporate issuer in North Africa, making it popular for investors
The company should benefit from a rise in fertiliser prices due to the Iran war
Nigeria plans a total return swap, following peers on the continent in the last 12 months
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North African sovereign draws big order book but investors more worried about reliving 2022
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“Rumours of the demise of the EM market have been greatly exaggerated”
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Both tranches from the rare issuer tighten by 25bp
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Analysts say the short-term risk of Nigeria falling into debt distress is low
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The country is in better shape than neighbours despite a blow from the war in Ukraine
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Bookrunner hails borrower’s “outstanding” result versus its regular curve despite pricing north of 10% barrier