Overwhelming Demand For Nigerian Debt - DMO Terms It a “Peak Order Book”

Overwhelming Demand For Nigerian Debt - DMO Terms It a “Peak Order Book”

Author: Africa Business Radio February 21, 2018 Duration: 1:46
As Nigeria returns to Eurobond Market since February 2017, the demand attracted what DMO terms a 'peak order book' of more than $11.5 bln. The US$2.5bn offering divided equally between 12- and 20-year debt instruments, at rates of 7.143% and 7.696% respectively.
The bond market remained scantily traded in today’s session. We, however, witnessed slight buys on the short end of the curve (2019s - 2022s) towards the close of market, as market players took positions in anticipation of a lower clearing rate on the 2021 bond at tomorrow’s auction.
The Niger State government has applied for two oil blocks in a bid to turn it to oil-producing state. Against the background of periodic challenges with the supply and distribution of petroleum products, the board of the Nigerian National Petroleum Corporation (NNPC) approved the list of firms to be selected for the rehabilitation, operation and maintenance of its refineries at Kaduna, Warri and Port Harcourt last month

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Tune into African Perspective for a grounded and detailed exploration of the continent's economic currents, brought to you by Africa Business Radio. This isn't just headlines; it's a deep dive into the mechanics, opportunities, and narratives shaping markets from Casablanca to Cape Town. Each episode moves between the granular details of a rising tech startup in Lagos and the broader, interconnected macroeconomic policies affecting trade across the 55 African Union member states. You'll hear analysis that connects local innovation to regional trends and global investment flows, offering a nuanced picture often missing from international coverage. The African Perspective podcast is built for professionals, investors, and anyone curious about the real drivers of business on the continent, providing context and insight that goes beyond the surface. By focusing on both the emerging ventures and the larger financial stories, the show paints a complete portrait of a dynamic economic landscape in constant evolution. Listen for authentic voices and expert commentary that make sense of a complex and rapidly changing environment.
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