Browsing: Eurobond

The ravaging Covid-19 pandemic earlier last year 2020 forced the Federal Government of Nigeria to suspend borrowing from International market but with their progressive economic recovery they have since announced plans to re-enter the international debt market this year once again.

Patience Oniha, the Director-General of the Debt Management Office (DMO), revealed this during a Reuters interview on Wednesday, April 7, 2021.

According to the Director-General of the Debt Management {DMO} the country will issue Eurobonds in 2021, with specifics to be published soon and an open bidding procedure for advisors.

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She also confirmed that the Eurobond would be included in the budget’s external borrowing plans for 2021.

A Eurobond is a debt instrument that’s denominated in a currency other than the home currency of the country or market in which it is issued.

Nigeria’s outstanding Eurobonds debt as …

Africa Finance Corporation (AFC), an investment multilateral finance institution has issued a CHF bond that matures in 2023 and which has already oversubscribed.

AFC invests in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications.

To date, the Corporation has invested over USD6.6 billion in projects within 30 countries across Africa.

This latest bond issue has attracted great investment across Europe with AFC saying ‘it received strong investor interest from private banks and asset managers, and the bond has experienced an over subscription.’

“The response to our second Swiss Franc bond issue has been overwhelmingly positive with order-books three-times oversubscribed,” said Samaila Zubairu, President& CEO of AFC.

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The CEO also pointed out that ‘the strong appetite for AFC bonds is further testimony of investor confidence in …

Most African currencies have depreciated against the US dollar except for the Malawian Kwacha.…

In yet another review of the country’s macroeconomics, Kenya’s Central Bank has held the benchmark lending rate at 9 per cent, meaning banks in the country will continue giving loans with a maximum interest rate of 13 per cent.

This is under the Banking Act which caps lending rates at four percentage points above the CBK rate.

The decision was reached on Monday by CBK’s decision making organ-Monetary Policy Committee (MPC), which meets every two months to review the outcome of its previous policy decisions and recent economic developments.

The meeting was held against a backdrop of domestic macroeconomic stability, sustained optimism on the economic growth prospects, improving weather conditions in most parts of the country and increased uncertainties in the global financial markets.

This is the sixth time the MPC is retaining the benchmark rate at nine per cent after bringing it down from 9.5 per cent in July …