Nigeria’s return to the international capital market defied political headwinds yesterday, as its $2.35 billion Eurobond issuance attracted orders worth $13 billion, representing an oversubscription by 453 percent or $10.65 billion.
This comes despite United States President Donald Trump’s designation of the West African country as a “Country of Particular Concern” over alleged widespread killings of Christians, rising religious intolerance, and his further threat of military action if the government fails to curb the violence.
The strong investor appetite signals renewed global confidence in Nigeria’s economic reforms trajectory and resilience amid rising geopolitical tension.
According to a statement from the Debt Management Office (DMO), the Federal Republic of Nigeria successfully priced $2.35 billion Eurobonds maturing in 2036 (Long 10-year) and 2046 (Long 20-year) in the international capital markets, with US$ 1.25 billion and US$ 1.10 billion placed in the 2036 and 2046 maturities, respectively.
The Long 10-year bond and the Long 20-year Notes were priced at Coupons / Yields of 8.625 per cent and 9.125 per cent, respectively, the statement added.
