February 15, 2018 / 4:30 PM / 10 months ago

Nigeria launches US$2.5bn dual-tranche bond

LONDON, Feb 15 (IFR) - Nigeria has launched a US$2.5bn dual-tranche bond, according to a lead.

The sovereign is bringing a US$1.25bn 12-year bond at 425bp over Treasuries and a US$1.25bn 20-year tranche at plus 455bp.

Demand for the offering is in excess of US$11bn.

The final spreads compare with guidance of plus 437.5bp area and plus 475bp respectively.

Initial pricing levels were 450bp area and 487.5bp area.

The 144A/Reg S deal is today’s business via Citigroup (B&D) and Standard Chartered. Expected issue ratings are B2 by Moody’s, B by S&P and B+ by Fitch. (Reporting by Sudip, Roy, Editing by Helene Durand)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below