Nigeria has received commitments to its planned $1 billion Eurobond from international investors, which it aims to issue before the end of the year, but pricing will be key, Finance Minister Kemi Adeosun said on Monday.
Nigeria has commitments to $1-bln eurobond, pricing key
Standard and Poor on Friday lowered Nigerian sovereign rating to B from B+, owing to marked contraction in oil production
Nigeria's Finance Minister Kemi Adeosun speaks at a news conference in Lagos, Nigeria, April 9, 2016.
The West African country is seeking advisers and bookrunners and is currently accepting proposals from international and local banks for the bond sale.
Standard and Poor on Friday lowered Nigerian sovereign rating to B from B+, owing to marked contraction in oil production, restrictive currency regime, delayed fiscal stimulus.
"We already have quite strong indications and indeed we had some commitments. Even though we weren't doing a deal we already have commitments to our bond offer, so we are very confident that it is just a question of pricing," Adeosun said.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Let’s drill 200k boreholes across the country — Obi begs wealthy Nigerians
Ondo 2024: Ex-governor's brother emerges gubernatorial candidate
UK varsity rolls out tuition, travel-free scholarship for Nigerian students
President Biden signs law to potentially ban TikTok if not sold
Ex-Governor, Fayose's money laundering trial adjourned as court fails to sit
Travel alert: Panic as fire breaks out at Lagos Airport
NGO allocates $36.5m to Nigeria, 15 other countries to eradicate trachoma
Senator sacrifices chicken to rain god to ask for rainfall — people are mad at him
Telecom calls on FG to tackle pricing issues, balance consumers affordability
ADVERTISEMENT