The amount was raised after an intensive two days of virtual meetings with investors across the globe.
In a statement issued last night, the Debt Management Office (DMO) explained that the Order Book peaked at
It said: "This exceptional performance has been described as, "one of the biggest financial trades to come
According to the DMO, bids for the Eurobonds were received from investors in
According to the statement, the size of the Order Book and the quality of investors demonstrates confidence in
The Eurobonds were issued in three tranches, details, namely seven years-,
The long tenors of the Eurobonds and the spread across different maturities are well aligned with
It stressed that since the Eurobonds were issued as part of the New External Borrowing in the 2021 Appropriation Act, the raising of
provides a significant amount of funds to finance projects in the Act, thus contributing to the implementation of the 2021 Appropriation Act.
The DMO had stated that in addition to providing funding to part-finance the deficit in the 2021 Appropriation Act, the issuance of the Eurobonds would benefits the country in many other strategic ways.
According to the DMO, it would also bring about an inflow of foreign exchange, leading to an increase in external reserves to help support the naira exchange rate as well as
It further explained that when
The debt management body stated, "In effect, it helps the sovereign not to crowd out other borrowers in the domestic market. The issuance of Eurobonds by
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