TUE 25 JAN, 2022-theGBJournal- The Debt Management Office (DMO) today listed its USD 4 billion Federal Government of Nigeria (FGN) Eurobonds on the FMDQ Securities Exchange.
It will be recalled that the Eurobond was listed in three tranches in accordance with Nigeria’s Debt Management Strategy 2020 – 2023:
- 7 years – USD1.25 billion due September 2028 at 6.125%
- 12 years – USD1.50 billion due September 2033 at 7.375%
- 30 years – USD1.25 billion due September 2051 at 8.250%
The Eurobond which was issued in September 2021 was oversubscribed to the tune of USD12.2 Billion, making it one of the continent’s most successful financial transactions of 2021.
The Eurobond issuance shored up Nigeria’s foreign reserve, led to the appreciation of the Naira and provided significant capital to finance various projects across Nigeria under the 2021 Appropriation Act.
‘’Currently, the three-tranche listing of the Eurobonds on the FMDQ Securities Exchange Limited has provided a suitable platform and a diversified pool of financial offerings for investors,’’ DMO said.
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