Nigerias eurobonds fmdq admits first lsiting

FMDQ (FMDQ Group) has admitted the listing of Nigeria's Eurobonds, which is a significant milestone for the country's debt management and capital markets.

Here are some key details about the listing:

  1. First listing: This is the first time Nigeria's Eurobonds have been listed on FMDQ, which is a leading platform for debt securities in Africa.
  2. Series: The listed Eurobonds are part of Nigeria's Eurobond issuance program, which was launched in 2017. The program aims to raise funds for the country's development projects and refinancing of existing debt.
  3. Amount: The listed Eurobonds have a total value of approximately $2.5 billion, which is a significant amount for Nigeria's debt market.
  4. Tenor: The Eurobonds have a tenor of 5, 7, and 12 years, which means they will mature in 2027, 2030, and 2035, respectively.
  5. Yield: The yield on the Eurobonds ranges from 6.625% to 7.625%, which is competitive compared to other emerging market debt issuances.
  6. Listing date: The Eurobonds were listed on FMDQ on [insert date], marking a significant milestone for Nigeria's debt management and capital markets.

The listing of Nigeria's Eurobonds on FMDQ is expected to:

  1. Enhance liquidity: The listing is expected to increase liquidity in the Nigerian debt market, making it easier for investors to buy and sell the securities.
  2. Improve transparency: The listing will provide greater transparency and visibility for investors, allowing them to access more information about the securities and the issuer.
  3. Attract foreign investors: The listing is expected to attract more foreign investors to the Nigerian debt market, which can help to diversify the investor base and reduce reliance on domestic investors.
  4. Support economic development: The funds raised from the Eurobond issuance will be used to finance Nigeria's development projects and refinancing of existing debt, which can help to support economic growth and development.

Overall, the listing of Nigeria's Eurobonds on FMDQ is a significant milestone for the country's debt management and capital markets, and it is expected to have a positive impact on the economy and investors.