Nigeria sells $2.5bn Eurobonds to replace Naira debt

Nigeria sells $2.5bn Eurobonds to replace Naira debt

*Yield was 7.1% on 12-year tranche, 7.7% for 20-year notes *Finance ministry says order book in excess of $11.5 billion Nigeria sold $2.5 billion of Eurobonds as it sought to lower funding costs by using the notes to refinance higher-yielding naira debt. Africa’s biggest economy on Thursday issued $1.25 billion of 12-year securities with a …

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Nigeria sells $2.5bn Eurobonds to replace Naira debt Nigeria sells $2.5bn Eurobonds to replace Naira debt Reviewed by Crude Oil Brokers Limited on 10:52 Rating: 5

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