Amanze Chinonye
Nigeria has raised $2.35 billion from its latest Eurobond issuance, marking the country’s largest-ever orderbook with bids exceeding $13 billion from global investors.
The Debt Management Office (DMO) confirmed on Wednesday that the dual-tranche issuance comprised a $1.25 billion “long 10-year” bond maturing in 2036 and a $1.10 billion “long 20-year” note due in 2046. The instruments were priced at yields of 8.63 percent and 9.13 percent, respectively.
According to the DMO, the transaction attracted broad participation from institutional investors across the United Kingdom, North America, Europe, Asia, the Middle East, and Nigeria, signaling renewed global confidence in the country’s fiscal and macroeconomic direction.
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President Tinubu described the outcome as “a reaffirmation of investor confidence in Nigeria’s reform agenda and its position as a credible player in the global capital market.”
Finance and Coordinating Minister of the Economy, Wale Edun, said the successful issuance “demonstrates the international community’s continued confidence in Nigeria’s reform trajectory and commitment to sustainable, inclusive growth.”
DMO Director-General Patience Oniha said the deal aligns with Nigeria’s strategy of accessing long-term funding to support the Tinubu administration’s growth agenda and diversify financing sources, Prime Business Africa reports.
Proceeds from the Eurobond will be used to finance the 2025 fiscal deficit and meet other budgetary needs. The Notes are to be listed on the London Stock Exchange, FMDQ Securities Exchange Limited, and the Nigerian Exchange Limited.
Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan, and Standard Chartered Bank acted as Joint Bookrunners, while FSDH Merchant Bank Limited served as Financial Adviser.
The record demand for Nigeria’s Eurobond comes as the government seeks to strengthen fiscal stability and reassure markets of its commitment to ongoing economic reforms, including exchange rate unification and fiscal consolidation.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
