Published on 2/9/2017 in the Prospect News Emerging Markets Daily.
New Issue: Nigeria prices $1 billion 7 7/8% notes due 2032 at par
By Christine Van Dusen
Atlanta, Feb. 9 – The Federal Republic of Nigeria priced $1 billion of notes due in 2032 at par to yield 7 7/8% on Thursday, a market source said.
The notes were initially talked at a yield in the 8½% area.
Citigroup and Standard Chartered were the bookrunners for the Rule 144A and Regulation S deal.
Issuer: | The Federal Republic of Nigeria
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Amount: | $1 billion
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Maturity: | 2032
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Description: | Notes
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Bookrunners: | Citigroup, Standard Chartered
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Coupon: | 7 7/8%
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Price: | Par
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Yield: | 7 7/8%
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Trade date: | Feb. 9
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Rating: | Fitch: B+
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Distribution: | Rule 144A and Regulation S
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Price talk: | 8½% area
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