Nigeria
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Emerging market governments must lead the way in green bonds to encourage corporates to enter the market around the world, according to Rahul Ghosh, a senior credit officer at Moody’s. -
Etisalat Nigeria is in the “advanced stage” of its negotiations with 13 local banks over the restructuring of a $1.2bn loan taken out in 2013, according to the company.
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Nigeria is offering around a 30bp premium at price talk for its first diaspora bond as deal watchers asked whether it will really be able to attract $300m of retail investment.
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EM investors have had plenty to play for this week with a boost to Turkish GDP buoying support for Yapi Kredi, and more Russian supply. Qatar remains one to watch however, though the country’s fundamentals have not changed.
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Nigeria on Wednesday added to a building pipeline of African credit with a diaspora bond, the first of its kind from a sub-Saharan African country.
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Nigeria is asking for funding support from its nationals living abroad with a new SEC-registered trade.
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Investor appetite for yield and renewed confidence in the Nigerian financial sector helped United Bank for Africa (UBA) size an inaugural dollar bond at the top end of the target range on Thursday.
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United Bank of Africa (UBA) is set to become the second Nigerian lender to tap the dollar market in less than two weeks after emerging with pricing for a debut five year deal on Thursday.
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United Bank for Africa (UBA) became the second Nigerian bank this week to announce its intention to raise senior funding, and with Zenith Bank proving that demand for the Nigerian financial sector is rife, bankers expect the trade to go well.
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United Bank for Africa (UBA) is the second Nigerian bank in as many days to announce its intention to raise senior funding, and with Zenith Bank proving that demand for the Nigerian financial sector is rife, bankers expect the trade to go well.
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Two well subscribed efforts from Nigeria this year have reinvigorated interest in the sovereign’s growth story, and Zenith Bank will be hoping to tap into this demand as it creates a benchmark for financial issuance from the region.
