By Kadiri Abdulrahman
Nigeria has officially raised 1.25 Billion dollars through the issuance of a seven-year Eurobonds in the International Capital Market (ICM).
The Director-General of the Debt Management Office (DMO), Patience Oniha made this known in a statement on Thursday.
Oniha said that with this feat, Nigeria has become the first African country to access the ICM in 2022.
According to her, the country’s ability to access the Eurobonds at this time was a confirmation of her established presence with the ICM and engagement with investors on a continuous basis.
She said that the proceeds of the bonds would be used to finance the budget and bridge infrastructural deficits.
“The offer was launched at an initial price thoughts of 8.75 per cent per annum and on the back of strong investor demand, Nigeria was able to reverse the price guidance to 8.5 per cent per annum.
“The order book continued to grow, reaching a peak of four billion dollars ” she said.
Source: News Agency of Nigeria
