LONDON, Nov 20 (IFR) - Nigeria has set final terms for a US$3bn dollar dual-tranche bond offering, according to a lead.
The sovereign has launched US$1.5bn November 2027s at a yield of 6.50%. The 10-year notes were initially marketed at 6.75% area.
Nigeria has also launched US$1.5bn November 2047s at a yield of 7.625%. The bonds were originally marketed at 7.875% area. The bond is the first 30-year tranche by a sub-Saharan African sovereign, excluding South Africa.
The combined order books are over US$11.4bn.
Allocations and pricing are to follow via Citigroup and Standard Chartered. Nigeria is rated B2/B/B+. (Reporting by Robert Hogg; editing by Alex Chambers)