FEDERAL GOVERNMENT PLANS FRESH BORROWING VIA EUROBOND IN JUNE
Written by Olakunle Oke on March 14, 2024
The Federal Government has enlisted the expertise of leading global investment banks, including Citibank NA, JPMorgan Chase & Co, and Goldman Sachs Group Incorporation, to guide its forthcoming Eurobond issuance.
It also appointed Standard Chartered Bank and the Lagos-based financial advisory firm Chapel Hill Denham to consult on this venture.
The Eurobond issue which would be the first since 2022, marks the country’s return to the international bond market after a two-year pause. In March 2022, the country raised $1.25 billion through Eurobond issuances.
This development, as reported by journalists and informed by sources close to the transaction, underscores the intent of Africa’s leading oil-producing nation to re-engage with global financial markets in order to bolster its fiscal budget
The report stated that the size of the Eurobond offer which is expected before June is yet to be determined.
It further added that the nation might aim to accumulate up to $1bn in international loans throughout 2024
Source: Jordan 105.5fm News Bulletin
READ ALSO: WORLD BANK DISBURSES $800M PALLIATIVE LOANS
