This development was confirmed in statement issued by the Debt Management Office on Wednesday in Abuja.
Issued in 2017, the five-year bond was offered at a coupon rate of 7.75 per cent and raised to support the Bank’s business in key sectors of the economy.
According to the statement issued by the Debt Management Office (DMO), the deal was concluded after an intensive two days of virtual meeting with investors across the globe.
Following its successful $500 million Eurobond issuance, Ecobank Transnational Incorporated, the Lomé-based parent company of the Ecobank Group, was hosted by the London Stock Exchange to a market opening ceremony to celebrate the successful listing of the Eurobond on the London Stock Exchange main market.
The adjournment comes three weeks after the lawmakers resumed from their annual vacation, which lasted for 10 weeks
The Senate on Thursday gave approval to the request of President Muhammadu Buhari to borrow $2.78 billion in order to finance the 2018 Budget.
Ezekwesili, who was a former Minister of Education, gave the advice while speaking to newsmen in Lagos.
A former Vice-President (Africa) of World Bank, Oby Ezekwesili, has advised the Federal Government to suspend its plan to raise 2.8 billion dollars in Eurobond to fund the 2018 budget.
The Notes, which comprise a $1.25 billion 12-year series and a US$1.25 billion 20-year series, will be used for the refinancing of the country’s domestic debt, the Debt Management Office says
The Minister of Finance, Kemi Adeosun, made this known to State House correspondents after the meeting of the Federal Executive Council in Abuja on Wednesday
A statement from the office made available to the News Agency of Nigeria on Tuesday in Lagos indicated that the amount consisted of two bills
President Muhammadu Buhari had written and obtained the approval of the Senate to access the loan
The allegation, made by Senator Dino Melaye, also has it that the Minister has to account for another $350 million raised for power generation through Eurobond
The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the Group’s pan-African
This was contained in a letter to the upper chamber read by the President of the Senate, Dr. Abubakar Bukola Saraki
He said it should be specified whether it would be both the Federal Government and the federating units or the Federal Government alone
The loan issue was not discussed at the Senate plenary as is always the case
The fact is that there is so much idle capacity in the economy which, if properly deployed, can generate enough inflows to take care of the challenge of repaying a Eurobond debt which, in percentage terms, does not pose a threat to an economy of the size of Nigeria’s
In a statement, GTB said the liability management exercise allowed the bank to efficiently manage its liquidity by addressing in full debt maturing in 2016
Nwankwo was speaking at a one-day workshop for the South-South, South-East and South-West geopolitical zones on Effective Sub-National Debt Management for Top Policy Makers in the states