The Debt Management Office has disclosed that Nigeria is back in the International Capital Market after about three years with a plan to raise at least $3bn from Eurobond issuance.
This was contained in a statement titled ‘Nigeria back at International Capital Market with Eurobond offer’ issued by the DMO’s spokesperson, Chinenye Onu, on Thursday.
The statement read, “The Federal Government of Nigeria has announced plans for a Eurobond issuance in the International Capital Market. “The last time Nigeria accessed the ICM was November 2018.”
The statement further disclosed that there would be virtual meetings with investors on September 17 and 20, adding that the meetings are open to local investors for the first time. “Virtual meetings with investors have been scheduled for September 17 and September 20,2021.
“In order to avail local investors the opportunity to invest in the Eurobonds, meetings will also be held with local investors. “This is the first time local investors will be included in the roadshows, and this is one of the reasons why a Nigerian Book runner (Chapel Hill Denham Advisory Services Ltd) was appointed as one of the transaction advisers,” it stated.
It further stated, “Through the Eurobond issuance, Nigeria is expected to raise up to $3bn but no more than $6.2bn.