Nigeria’s $Ibn Eurobond attracts $7.8bn orders

Euro-Bonds

Image result for Nigeria's $Ibn EurobondIn what looks like is a resurgence of investor confidence in the Nigerian economy, the country’s $1bn Eurobond was approximately eight times oversubscribed with orders in excess of $7.8bn.

The bond with an interest rate of 7.87 per cent, would be repaid after 15 years.

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A statement from Nigeria’s ministry of trade said despite continued volatility in emerging and frontier markets, the over – subscription of the bond is a demonstration of the confidence by the international investment community in Nigeria’s economic reform agenda.

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