Tag: Eurobond
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UBA redeems USD500 million 5-year Eurobond
The United Bank for Africa (UBA) on Wednesday, redeemed its debut $500 million 5-year Eurobond notes with the maturity date of June 8, 2022. Issued in 2017, the five-year bond was offered at a coupon rate of 7.75%, and raised to support the Bank’s business in key sectors of the economy.
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Nigeria rules out Eurobonds sale, mulls local borrowing to fund 2019 budget
The Debt Management Office (DMO) has disclosed that the Nigerian government will not consider going to the international debt market this year to borrow fresh funds. Director-General of the DMO, Ms Patience Oniha, who made this disclosure, stated that federal government will only consider the local debt market to seek for fresh funds. In a…
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Nigeria’s Eurobonds debt rises to $10.9bn from $1.5bn in 2015
Nigeria’s external debt stock rose by 148 percent in almost four years of the President Muhammadu Buhari administration, data from the Debt Management Office (DMO) showed. The external debt soared to $25.61 billion as at March 31, 2019 from $10.32 billion as at June 30, 2015, according to the DMO, with Eurobonds worth $10.87 billion…
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Investors oversubscribe Ecobank $450m Eurobond
The debut $450 million Eurobond recently issued by Ecobank Transnational Incorporated was oversubscribed by investors, the company has disclosed. The money was raised to assist the Lomé-based parent company of the Ecobank Group to meet its general corporate purposes and to refinance existing Holdco obligations. The Global Offering is a 5-year unsecured note (144A/RegS) listed…
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Nigeria raises $2.86bn Eurobonds to fund 2018 budget
The Federal Government on Wednesday said it had raised 2.86 billion dollars three-series international bond under its Global Medium Term Note Programme. Mr Paul Abechi, Special Adviser to the Minister of Finance on Media and Communications disclosed this in a statement in Abuja. He said that the offering attracted significant interests from leading global institutional…
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Reps suspend consideration of Electoral Act, $2.8 billion Eurobond
Hope for a quick approval of the $2.8 billion Eurobond loan request by President Muhammadu Buhari to finance the 2018 budget and amendment to the Electoral Act No. 6 of 2010 has suffered another setback following the decision of members of the House of Representatives to step down consideration on the report. Though the upper…
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Don’t float $2.8bn Eurobond, Ezekwesili tells FG
A former Vice-President (Africa) of World Bank, Mrs Oby Ezekwesili, has advised the Federal Government to suspend its plan to raise 2.8 billion dollars in Eurobond to fund the 2018 budget. Ezekwesili, who was a former Minister of Education, gave the advice while speaking to newsmen in Lagos. The former minister was reacting to the…
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Diversion of $600m Euro Bond: Senate Summons Adeosun, Amaechi
Minister of Finance, Mrs Kemi Adeosun, her counterpart, in the Transportation Ministry, Rotimi Amaechi and the Director-General, Debt Management Office, DMO, Mrs Patience Oniha, have being invited by the Senate to give explanations on why $100million out of the $600 million Euro bond obtained by Nigeria from the Chinese government for the rehabilitation of the…
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FG to float $2.5bn Eurobond for capital project before year end – DMO
The Debt Management Office (DMO) on Thursday said the Federal Government would float a Eurobond to raise 2.5 billion dollars before the end of 2017. The DMO Director-General, Patience Oniha, made this known at the 2017 Nigerian Debt Capital Markets Conference and Awards, organised by the FMDQ OTC Securities Exchange in Lagos. Oniha said that…
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Access Bank redeems $350 million Eurobond
Access Bank Plc has announced the final redemption of the $350,000,000.00 Eurobond Notes due July 25, 2017. The Securities were issued in 2012 by Access Finance B.V. – a direct, wholly owned subsidiary of the Bank – on the back of an unconditional and irrevocable guarantee of the Bank. In October 2016, holders of $113…