Thursday, November 29, 2018

Tag "Eurobond"

    Senate approves $2.78bn Eurobond request, cautions FG on borrowing

Senate approves $2.78bn Eurobond request, cautions FG on borrowing

The senate has approved the $2.786 billion loan request of President Muhammadu Buhari to finance the 2018 budget.The upper legislative chamber also approved $82.54 million to refinance the balance of $500 million Eurobond in the international capital market.Senate President Bukola Saraki had read the president's request on the floor of the senate last week Tuesday after the senators resumed from [...]

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    FG to borrow fresh $2.8bn for 2018 budget

FG to borrow fresh $2.8bn for 2018 budget

The federal government is planning to borrow $2.8 billion to fund the deficit of the recently passed 2018 budget.Patience Oniha, director general of the Debt Management Office (DMO), made this known while speaking to Reuters on Wednesday."We will explore all options keeping in mind our twin objectives of extending the tenor of the debt stock and lowering costs," she said, [...]

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    DMO: American investors are largest buyers of Nigeria’s Eurobond

DMO: American investors are largest buyers of Nigeria’s Eurobond

The Debt Management Office (DMO) says American investors are the largest buyers of Nigeria’s $2.5bn Eurobond.New data released by DMO indicated that for Eurobond notes with a 12-year tenor, American investors purchased 55%, while British investors bought 32%; European investors took 11% of the Eurobond.For Eurobond with 20-year tenor, American investors bought 59% while British and European investors purchased a combined [...]

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    FG floats $2.5bn Eurobond, says debt level will not be affected

FG floats $2.5bn Eurobond, says debt level will not be affected

The federal government through the Debt Management Office (DMO) has floated a $2.5 billion Eurobond, making the fifth issuance in the country's history.According to a statement by Salisu Na'inna Dambatta, director of information at the ministry of finance, said it will be divided into two notes with different maturity periods."The notes comprise a $1.25 billion 12-year series and a $1.25 billion [...]

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    DMO: New $2.5bn Eurobond will be used to refinance old debts

DMO: New $2.5bn Eurobond will be used to refinance old debts

The Debt Management Office (DMO) says the proceeds from the planned $2.5 billion Eurobond will be used to refinance maturing domestic debt obligations of the federal government.The government had proposed a $5.5 billion Eurobond auction although it only issued $3 billion in 2017.In a statement sent to TheCable on Thursday, DMO said the proceeds will be converted to naira and [...]

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    Oniha: FG planning another Sukuk, Eurobond in 2018

Oniha: FG planning another Sukuk, Eurobond in 2018

Patience Oniha, director general of the Debt Management Office (DMO), says the federal government will issue another Eurobond and Sukuk in 2018.Speaking in an interview with Bloomberg, Oniha said the federal government might issue a $2.5 billion Eurobond in the first quarter of 2018 to refinance old debts.This, she said, would complete the planned issuance of $5.5 billion Eurobond proposed [...]

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    FG lists $3bn Eurobond, diaspora bond on NSE

FG lists $3bn Eurobond, diaspora bond on NSE

The federal government has listed its $3 billion Eurobond and $500 million diaspora bond on the Nigerian Stock Exchange (NSE).Patience Oniha, director general of the Debt Management Office (DMO), disclosed this on Thursday.Shesaid the federal government would reduce the nation's debt cost in the coming years."We have already listed N1.5 billion early in the year, and we are coming toward [...]

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    DMO to redeem N198bn treasury bills with Eurobond proceeds

DMO to redeem N198bn treasury bills with Eurobond proceeds

The Debt Management Office (DMO) says it will redeem treasury bills worth N198 billion maturing on December 14 and 21.In a statement released on Tuesday, the office said it will not roll over the treasury bills.Of the N198 billion, N131.415 billion will mature on December 14 while N66.617 billion will mature on December 21."The NTBs will be redeemed primarily using [...]

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    Nigeria’s $3bn Eurobond over-subscribed by almost four times

Nigeria’s $3bn Eurobond over-subscribed by almost four times

The $3 billion Eurobond floated by the federal government through the Debt Management Office and the ministry of finance was oversubscribed by almost four times.According to a statement released by Kemi Adeosun, minister of finance, the Eurobond had a total demand of $11.4 billion.The debt instrument, which was released in two tranches, has a tenor of 10 years and 30 [...]

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    FG floats $3bn Eurobond — biggest ever

FG floats $3bn Eurobond — biggest ever

The federal government says it has successfully priced its $3 billion Eurobond with a tenor of 10 and 30 years.This is the biggest Eurobond Nigeria has ever issued.The $1.5 billion 10-year note will be offered at an interest rate of 6.5 percent, while the 30-year series will bear interest of 7.625 percent and will be repayable with a bullet repayment [...]

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    Nigeria’s debts on the rise — N20 trillion and still counting

Nigeria’s debts on the rise — N20 trillion and still counting

Data made available by the Debt Management Office (DMO) on Tuesday showed that Nigeria's debt stock has hit N20 trillion as at September 30, 2017.Domestic debt accounts for 76.96 percent of this figure while foreign debt accounts for 23.04 percent.In figures, domestic debt stood at N15.679 billion, an increase of 4.1 percent from the N15.034 trillion recorded in June.Foreign debt [...]

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    Oniha: More Eurobonds to be released in late 2017

Oniha: More Eurobonds to be released in late 2017

Patience Oniha, director general of the Debt Management Office (DMO), says the federal government has plans to release more Eurobonds by the fourth quarter of 2017.Oniha made this known while speaking on the N100 billion Sukuk in an interview with Channels Television on Monday."On what the DMO is looking at to bring down debt service, one part of it is [...]

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    From 13.79% in April, FG raises savings bond interest to 14.53%

From 13.79% in April, FG raises savings bond interest to 14.53%

The Debt Management Office (DMO) on Monday raised the interest band for the federal government savings bonds to 14.535 percent from 13.79 percent in April -- for the three year tenor.This means that while you would have gotten N13,790 in a year as interest if you invested in April, you can now get as much as N14,535 going by the [...]

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    FACT CHECK: Was Adeosun right about Nigeria not borrowing internationally since 2013?

FACT CHECK: Was Adeosun right about Nigeria not borrowing internationally since 2013?

In a speech delivered on Facebook Live in April, Kemi Adeosun, minister of finance, said that the country has not borrowed internationally since 2013.Adeosun made this statement while outlining the government's borrowing plans explaining that the country did not have enough money for the level of infrastructure spending it wanted, which amounted to 30% of the budget according to her."To [...]

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    PRCAN tells FG: You say ‘Buy Nigeria’ yet Adeosun hired UK PR firm

PRCAN tells FG: You say ‘Buy Nigeria’ yet Adeosun hired UK PR firm

The Public Relations Consultants Association of Nigeria (PRCAN) has advised the federal government respect its own "Buy Nigeria, Save the Naira" campaign.PRCAN was reacting to comments by Kemi Adeosun, minister of finance, that the federal government hired a British public relations firm to manage the recently auctioned Eurobond.The association implored President Muhammadu Buhari to make Adeosun explain if the process of [...]

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    Adeosun: Why we hired foreign PR consultants

Adeosun: Why we hired foreign PR consultants

Kemi Adeosun, minister of finance, has explained why the ministry of finance hired Africa Practice, British public relations (PR) and strategic communications consultants.Earlier, the minister has been accused of wasting the country's resources by hiring a British PR consultant at $2 million per month or N610 million per month at official rates.Reacting to the allegations, Adeosun said the allegations are [...]

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Exchange Rates

November 27, 2018USDGBPEUR
INTERBANK306397354
LAGOS363475418
KANO364476420
PH364476420
ABUJA363478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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