Nigeria to Issue 450 Billion Naira in Bonds on January 27

• Bond offerings include 5-, 7-, and 10-year maturities totaling 450 billion naira.
• Proceeds to address deficit in Nigeria’s 47.9 trillion naira budget proposal.

Abuja, Nigeria – Nigeria plans to issue bonds worth 450 billion naira on January 27, comprising 100 billion naira in five-year bonds, 150 billion naira in seven-year notes, and 200 billion naira in 10-year debt. The five- and seven-year offers are re-openings of existing issues with yields of 19.5% and 18.5%, respectively. The 10-year bond is a new issuance, with its yield to be determined during pricing.