The positives from the federal government’s recent $2.25 billion Eurobond have been highlighted by experts and stakeholders, who characterize it as a significant return to global capital markets. Nigeria successfully raised $2.25 billion in a dual-tranche Eurobond sale last week, according to Daily Trust. 00:00/03:11 10 seconds Oversubscribed, the 10-year and 20-year notes were priced at 8.625 percent and 9.125 percent, respectively, which were lower than the initial forecast.Experts claim that the debt oversubscription is a result of strong investor confidence in Nigeria’s monetary and fiscal policy reforms as well as increasing risk sentiment toward frontier markets. Other parties have benefited from the Central Bank of Nigeria’s (CBN) FX reforms, which have increased market confidence, improved fiscal transparency, and increased investor interest for Nigerian bonds. According to Daily Trust, the Eurobonds with maturities in 2036 and 2046 represent the nation’s largest orderbook to date and demonstrate investor confidence in its fiscal management and macroeconomic policies. The 20-year, $1.10 billion note due in 2046 had a rate of 9.1297 percent, while the 10-year, $1.25 billion bond maturing in 2036 had a coupon of 8.6308 percent.
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