NSE Partners Debt management office to List $1billion FGN Eurobond

     

    The Nigerian Stock Exchange (NSE) will today list the $1 billion Federal Government (FGN) Eurobond.

  it's a 15-year domestic sovereign Eurobond priced at par and at a coupon of 7.875 per cent per annum.Commenting on the listing, the Director General, Debt Management Office (DMO), Dr. Abraham Nwankwo said: “The listing of domestic sovereign Eurobond reinforces FGN’s commitment to deepen and grow the Nigerian capital market. Developing the domestic market can help bridge the infrastructure deficit constraining economic growth.”

According to him, the Eurobond which was over-subscribed by 780 per cent, is part of FGN’s funding strategy for its 2016 capital expenditure and will be spent on key infrastructure projects, in line with its economic plan.
“This huge oversubscription rate underscores a buoyant investor’s appetite for building exposure to Nigeria and demonstrates international confidence in the economy’s long term prospects.