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Nigeria to issue Eurobonds, moves to appoint transaction advisor~DMO

By on April 7, 2021 0 90 Views

Nigeria is working on issuing Eurobonds and plans to pick advisers through an open bid process, the head of the debt office told Reuters on Wednesday.

Patience Oniha, the director-general of the Debt Management Office (DMO), said the amount to be raised would be within Nigeria’s external borrowing plans for 2021.

The government had planned a Eurobond issue early last year to fund its budget deficit before it decided to defer the sale due to the turmoil caused by the COVID-19 pandemic.

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In January, Nigeria repaid a $500 million Eurobond which matured and Oniha said the DMO was monitoring international markets for new issues by frontier countries.

The West African country held its last Eurobond sale in 2018, its sixth such issue, where it raised $2.86 billion.

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