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22 views3 pages

Asking S

Uploaded by

iqmobiletutor
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Year Amount Tranches Maturity Coupon Notable details

Issued periods rates


2013 $1 billion 2 5 and 10 5.125% and First
years 6.375% Eurobond
issuance
(Vanguard
News)

2017 $1.5 billion, Multiple 5,10,30 7.875%, Included a


$300 million, years 7.625% Diaspora Bond
$3 billion (Vanguard
News)
(Businessday
NG)

2018 $2.5 billion, Multiple 7,10,30 7.143% - Issued in two


$2.86 billion years 9.248% rounds
(Vanguard
News)(Nigerian
Investment
Promotion
Commission)
2021 $4 billion 3 7,12,30 6.125%, Oversubscribed
years 7.375%, four times
8.25% (Nigerian
Investment
Promotion
Commission)
(FMDQ Group)

From 2013 to 2023, Nigeria’s Eurobond issuances have been a critical component in addressing the
country’s external financing needs and bolstering its foreign reserves. Here is an overview of key
issuances during this period:

2013: Nigeria made its debut in the Eurobond market, issuing $1 billion in two tranches of $500
million each. The tranches had tenors of 5 and 10 years, with coupon rates of 5.125% and 6.375%,
respectively.

2017: After a four-year hiatus, Nigeria re-entered the Eurobond market. In February, it issued $1.5
billion, followed by a $300 million Diaspora Bond in June. Additionally, in November, Nigeria raised
another $3 billion, issued in two tranches of $1.5 billion each with maturities of 10 and 30 years .

2018: Nigeria issued $2.5 billion in Eurobonds in February and an additional $2.86 billion in
November. These issuances included various tranches with maturities ranging from 7 to 30 years and
coupon rates between 7.143% and 9.248%.
2021: In September, Nigeria raised $4 billion from Eurobonds, exceeding the initial target of $3
billion. The bonds were issued in three tranches: $1.25 billion for 7 years at a 6.125% yield, $1.5
billion for 12 years at 7.375%, and $1.25 billion for 30 years at 8.25% .

2023: Nigeria continued its active engagement in the Eurobond market. Specific details of the 2023
issuances, including closing prices and yields, are documented in reports from the Debt
Management Office (DMO).
FASORANTI SHOLA

2109029095

FIN 839

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