Nigeria launched the sale of $2.25 billion of Eurobonds on Wednesday, the bookrunner said, after markets\u00a0largely shrugged off\u00a0threats from U.S. President Donald Trump of potential military action in the country.<\/p>\n
The West African oil producer will use the money to cover the government’s fiscal deficit, according to bookrunner Chapel Hill Denham.<\/p>\n
Trump on Sunday\u00a0threatened military action\u00a0in Nigeria if the country did not crack down on the killing of Christians. The following day Nigeria’s long-dated sovereign bonds slipped, with the 2051 issue falling roughly 0.5 cents before retracing some of the losses.<\/p>\n
Several African countries have returned to Eurobond markets in recent weeks to capitalize on a drop in interest rates and robust demand from investors, and total emerging market sovereign debt issuance hit a record high this year.<\/p>\n
Nigeria’s sale includes a dual tranche for 10 and 20 years at 9.125% and 9.625%, according to Chapel Hill Denham.<\/p>\n
Congo Republic issued its first Eurobond in nearly 20 years on Wednesday, and Kenya and Angola issued new bonds last month.<\/p>\n
Nigeria’s\u00a0parliament previously approved\u00a0plans to borrow $2.85 billion from international debt markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nigeria launched the sale of $2.25 billion of Eurobonds on Wednesday, the bookrunner said, after markets\u00a0largely shrugged off\u00a0threats from U.S. President Donald Trump of potential military action in the country. The West African oil producer will use the money to cover the government’s fiscal deficit, according to bookrunner Chapel Hill Denham. Trump on Sunday\u00a0threatened military […]<\/p>\n","protected":false},"author":1,"featured_media":9710,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":7,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,2362,27],"tags":[1643,1697,175],"class_list":["post-18493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","category-west-africa","tag-donald-trump","tag-eurobond","tag-nigeria"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/18493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=18493"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/18493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/9710"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=18493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=18493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=18493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}