Nigeria set for new Eurobond issue

June 18
3:31 PM 2013

Plans for a one week roadshow to be conducted in Britain, Germany and the United States would be undertaken by Nigeria. The said roadshow would be managed by the bookrunners engaged by the country for its US$1 billion Eurobond.

The said roadshow was confirmed through an itinerary for the trip forwarded to Reuters through an email sent by an anonymous banking source familiar with the deal  In the itinerary, the meetings would be led by Nigerian Finance Minister Ngozi Okonjo-Iweala together with other governmnt officials in the country's debt management office.

The Nigerian government had engaged the services of Deutsche Bank and Citigroup to manage the bond issue.

The African country is set to issue a US$500 million Eurobond with a term of ten years. A couple of years ago, the same kind of issue was also done and was oversubscribed for over 2.5 times. In that debt issue, The investors of that issue spanned 18 countries from continents such as Africa, Asia, Europe and the United States. 

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