Nigeria’s latest $2.35 billion Eurobond issuance has attracted overwhelming investor interest, with subscriptions surpassing $13 billion; over five times the offer size.
Investors from the UK, North America, Europe, Asia, the Middle East, and Nigeria participated in the transaction, which included two tranches: $1.25 billion maturing in 2036 and $1.10 billion maturing in 2046. The Notes were priced at coupon rates of 8.63% and 9.13%, respectively.
The Federal Government described the response as a strong endorsement of its economic reforms and fiscal discipline. Finance Minister Wale Edun said the success “reflects international confidence in Nigeria’s reform trajectory and commitment to sustainable growth.”
The DMO’s Director-General, Patience Oniha, noted that the Eurobond will fund the 2025 fiscal deficit and diversify financing sources. The Notes will be listed on the London, FMDQ, and Nigerian Exchanges.
