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Nigeria floats $2.5 billion dual Eurobonds

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The Federal Government has floated 2.5 billion dollars aggregate Eurobonds under its Global Medium Term Note Programme.

A statement obtained from the website of Debt Management Office (DMO) on Friday in Abuja, said that the bonds comprised 1.25 billion dollars 12-year series and 1.25 billion dollars 20-year series.

The 12-year series has interest rate of 7.14 per cent, while the 20-year series has 7.69 per cent interest rate which will be repaid on maturity.

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According to the statement, the offering is expected to close on or about February 23 subject to the satisfaction of various customary closing conditions.

The statement said that the offering had attracted significant interest from leading global institutional investors with a peak order of over 11.5 billion dollars.

Ms Patience Oniha, the Director General of DMO, said the successful pricing of the fifth Eurobond had conferred on Nigeria the status of issuer of Eurobonds with a strong and diverse investor base.

“This time Nigeria has priced a new 12-year bond at a yield of 7.14 per cent and a 20-year bond at a yield of 7.69 per cent, both of which are consistent in price with our existing portfolio.

“I am particularly pleased that the issuance will enable us to refinance a portion of our existing domestic debt portfolio with external debt at considerably lower cost.

“Also, the impact of the process has already led to a reduction in the cost of domestic borrowing, and so a double benefit for the cost of our broader debt portfolio.

“Lower domestic rates will also benefit corporate borrowers,” she said.

Mrs Kemi Adeosun, the Minister of Finance, said the proceeds of the issuance would be used to re-finance domestic debt.

The notes represent Nigeria’s fifth Eurobond issuance, following issuances in 2011, 2013 and two in 2017.

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Motherland News

Nigerian President Buhari Warns Ballot box snatchers to value their lives

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President Muhammadu Buhari has warned those planning to snatch ballot boxes during the elections to desist or pay with his or her life if caught.



President Buhari who stated this at the opening session of the All Progressives Congress, APC, Caucus meeting in Abuja, on Monday, said that such act would be the last unlawful act the person will be brought to book.

Meanwhile, the governors of Imo, Rochas Okorocha and Ogun, Ibikunle Amosun were conspicuously absent at the meeting.

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Buhari who said he is confident that he has garnered enough supporters having gone round the country to campaign, urged party members to reassure their constituents to come out and vote on the rescheduled dates.

While urging party agents to watch out for the party interests at the polling units the president said that he has directed security agencies to identify hot spots and be ready to move should they suspect any attempts to cause problems by thugs across the country irrespective of party affiliations.

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Health & Lifestyle

DR Congo blame Unending Ebola Outbreak on Violence , Community Mistrust.

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DR Congo Ministry of Health spokesperson Jessica Ilunga has declared that violence and community mistrust have continued to hamper all efforts to control and end the fresh Ebola outbreak, which started Aug. 1.



Though according to the World Health Organization the number of new Ebola cases has dropped slightly in the Democratic Republic of the Congo as there are 33% fewer cases to date in February compared with the same time period in December per STAT’s Helen Branswell, but some experts warn Axios that there remain signs that this outbreak is far from over.

Meanwhile, some experts warn that, that doesn’t mean the world’s second-largest Ebola outbreak on record is yet under control, and in fact it could simply be moving to new areas of the sprawling country.

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Johns Hopkins’ public health expert Jennifer Nuzzo maintains there are several reasons people should continue to view this outbreak as a cause for concern.

However, Nuzzo said Congo needs more than money from the international community and the U.S. in particular. Safety concerns have largely caused the CDC to limit its Ebola experts to the capital city of Kinshasa, where some have returned after being evacuated during an uptick in election-related violence, Nuzzo added that Now is the time for the U.S. to send them into the field.

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