Nigeria’s authorities have effectively raised $900 million in its first-ever domestic dollar bond sale, in line with the Africa Finance Corporation (AFC), which coordinated the issuance.
The bond, issued at face cost, has a 5yr adulthood and offers an appealing annual return of 9.75%, consistent with the AFC’s assertion on Wednesday.
Initially, the authorities aimed to raise $500 million, however, the imparting attracted robust hobby from investors, resulting in a 180% oversubscription. Demand some distance-handed expectations, highlighting sturdy self-assurance in Nigeria’s monetary possibilities.
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