$1 billion of Eurobonds: Federal government to appoint two international banks
– The Nigerian government is set to set to appoint two lead managers and a financial adviser – The reason is to organize the issuance of $1 billion of Eurobonds this year – The sale is part of $4.5-billion program between now and 2018 The federal government of Nigeria is in the process of appointing two […]
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– The Nigerian government is set to set to appoint two lead managers and a financial adviser
– The reason is to organize the issuance of $1 billion of Eurobonds this year
– The sale is part of $4.5-billion program between now and 2018
The federal government of Nigeria is in the process of appointing two lead managers and a financial adviser to organize the issuance of $1 billion of Eurobonds this year.
According to the Debt Management Office (DMO), the sale is the first tranche of a $4.5 billion Nigeria Global Medium-Term Notes Issuance Programme that runs through 2018.
Dr Abraham Nwankwo, DG of DMO
The government aims to appoint two international banks as joint lead managers and a local lender as financial adviser for the whole program, according to the statement.
According to Bloomberg, the DMO has already called for bids are to be submitted latest 12 noon on Monday, September 19 at its Abuja office.
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Part of the statement read: ”the move will enable Nigeria to have the flexibility of quickly taking advantage of favorable market conditions in the international capital market to raise funds if and only when the need arises.”
The move is the first time Nigeria is tapping into the Eurobond sales after attempts in 2011 and 2013.
The post $1 billion of Eurobonds: Federal government to appoint two international banks appeared first on Nigeria News today & Breaking news | Read Naij.com 24/7.