Latest News
DMO launches investor roadshow to promote $1 billion Eurobond
News Highlight
- The DMO is finalizing the appointment of joint lead managers and financial advisers for the Eurobond offering.
The Debt Management Office has launched an investor roadshow to generate investor interest in Nigeria’s planned $1 billion Eurobond offering.
The one-week roadshow is being held in the United Kingdom and the United States, with Kemi Adeosun, Nigeria’s Minister of Finance, scheduled to participate in the events, according to a report by Reuters on Tuesday.
"The DMO is currently on a roadshow to the UK and U.S.," a government official told Reuters. "It's (a) pre-marketing engagement with prospective investors."
The DMO is still finalizing the appointment of joint lead managers and financial advisers for the Eurobond offering even though bids for the roles closed on September 19th, the official said.
Under the N6.06 trillion budget for 2016, the federal government plans to raise N900 billion from external sources and N984 billion from local sources to fund the N2.2 trillion budget deficit.
In August, the government approved a three-year rolling external borrowing plan targeted at raising low-cost financing from institutions such as the World Bank, African Development Bank, China Exim Bank, and the Japanese International Cooperation Agency. The President of the African Development Bank, Akinwumi Adesina, said last week that the bank is looking to award $1 billion to the Nigerian government to address the deficit in the 2016 budget.
Related News
Latest Blogs
- AML/CFT regulations and data protection require balance in regulating cryptocurrency
- It's time for honest discussions on Nigeria's security architecture
- Driving economic growth through green transition in Nigeria
- CBN is fighting inflation instead of stagflation
- Why electricity privatization failed (2)
Most Popular News
- NDFF 2024 Conference to boost Nigeria’s blue and green economies
- IFC, partners back Indorama in Nigeria with $1.25 billion for fertiliser export
- CBN increases capital requirements of banks, gives 24 months for compliance
- CBN settles backlog of foreign exchange obligations
- Univercells signs MoU with FG on biopharmaceutical development in Nigeria
- Ali Pate to deliver keynote speech at NDFF 2024 Conference