• General News
  • Health
  • Entertainment
  • Sports
  • Finance
  • Business
  • Tech Innovations
  • Pod News

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

MULTI CHOICE ANNOUNCES NEW PRICE FOR DSTV, GOTV SUBSCRIBERS

March 22, 2022By Damaris Dankaro

Anxiety as Armed Security Operatives Take Over Cross River Assembly

March 22, 2022By Damaris Dankaro

Kaduna imposes 24-hour curfew on two councils over death of many and burning of over70 homes

March 22, 2022By Damaris Dankaro
Facebook Twitter Instagram
Facebook Twitter Instagram
Buj News
Dark/Light Mode
  • General News
  • Health
  • Entertainment
  • Sports
  • Finance
  • Business
  • Tech Innovations
  • Pod News
Buj News
You are at:Home » FG announces plans for Eurobond’s issuance at the ICM.
Finance

FG announces plans for Eurobond’s issuance at the ICM.

The Federal Government has announced plans for a Eurobond issuance at the international capital market (ICM) to raise $6.2 billion for financing the 2021 budget.
JamellaBy JamellaSeptember 17, 20211 Comment2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

The Federal Government has announced plans for a Eurobond issuance at the international capital market (ICM) to raise $6.2 billion for financing the 2021 budget.

 

Eurobond issuances are debt instruments denominated in a different currency than the local one of the country where the bond is issued.

 

The Debt Management Office (DMO), in a statement on Thursday, said the virtual meetings with investors (both local and foreign) will hold on September 17 and September 20, 2021.

 

In August, the federal government appointed eight transaction institutions to provide advice for a Eurobond issuance which the debt office said was to raise funds for the new external borrowing of N2.343 trillion to part-finance the deficit.

 

DMO said this is the first time local investors will be included in the roadshows (global market) as the last time Nigeria accessed the ICM was November 2018.

 

“Through the Eurobond issuance, Nigeria is expected to raise up to $3 billion but no more than $6.2 billion,” it said.

 

“The issuance for which all statutory approvals have been received is for the purpose of implementing the New External Borrowing in the 2021 Appropriation Act. Proceeds are for the financing of various projects in the Act.”

 

 

DMO explained that the issuance of Eurobonds will benefit Nigeria in various ways including, leading to an increase in external reserves; “frees up space in the domestic market for the private sector and sub-national borrowers. In effect, it helps the sovereign not to crowd out other borrowers in the domestic market.

 

“The issuance of Eurobonds by Nigeria has opened up opportunities for Nigeria’s corporate sector notably banks, to issue Eurobonds to raise capital in the ICM.

 

“By so doing, their capital base has been strengthened to provide banking services whilst also meeting regulatory requirements. Nigeria has a sovereign yield curve in the ICM, extending up to 30 years.

 

“The local listing of Nigeria’s Eurobonds on the Nigerian Exchange Ltd. and the FMDQ Securities Exchange Ltd., have increased the range of products on these two (2) exchanges and their respective market capitalisation.”

 

It added that Eurobond issuances that precede the pricing has provided Nigeria with a strong global platform and made available opportunities for investors in the country.

Featured
Jamella

Related Posts

Finance

Nigeria’s Inflation rate drops according to NIBS

By JamellaSeptember 17, 2021
Business

Access Bank successfully launches million dollar Bond.

By JamellaSeptember 17, 2021
General News

Agritech start-up, Releaf raises over $2million from seed funding.

By JamellaSeptember 17, 2021
Health

Federal Government presently working on Nigerian Herbal Pharmacopoeia.

By JamellaSeptember 17, 2021
View 1 Comment

1 Comment

  1. דירות דיסקרטיות בראשון לציון on October 25, 2021 9:19 pm

    דירות דיסקרטיות באשקלון

    Reply

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
Demo
Don't Miss
General News

MULTI CHOICE ANNOUNCES NEW PRICE FOR DSTV, GOTV SUBSCRIBERS

By Damaris DankaroMarch 22, 20222 Mins Read

Multichoice  has Announced New Prices for all Packages Starting from April 1, 2022. Nigerians are…

Anxiety as Armed Security Operatives Take Over Cross River Assembly

March 22, 2022By Damaris Dankaro

Kaduna imposes 24-hour curfew on two councils over death of many and burning of over70 homes

March 22, 2022By Damaris Dankaro

Anambra Governor Announces New Appointments

March 21, 2022By Damaris Dankaro
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest creative news from SmartMag about art & design.

Demo
ABOUT
ABOUT

Looking for news on sports, health, business, entertainment, innovations and much more?
Get all your news in one place! Here at BUJ, entertainment meets information, keeping you up-to-date, on the go!

Facebook Twitter Instagram Pinterest YouTube
CATEGORIES
  • General News
  • Health
  • Entertainment
  • Sports
  • Finance
  • Business
  • Tech Innovations
  • Pod News
Our Picks

MULTI CHOICE ANNOUNCES NEW PRICE FOR DSTV, GOTV SUBSCRIBERS

March 22, 2022By Damaris Dankaro

Anxiety as Armed Security Operatives Take Over Cross River Assembly

March 22, 2022By Damaris Dankaro

Kaduna imposes 24-hour curfew on two councils over death of many and burning of over70 homes

March 22, 2022By Damaris Dankaro
Facebook Twitter Instagram Pinterest TikTok YouTube WhatsApp
  • Home
  • Sports
  • Health
© 2023 Copyright 2022 Buj News. All rights reserved. Privacy & Terms..

Type above and press Enter to search. Press Esc to cancel.