Crownrise Finance to float N1bn bond in Nigerian debt market
Businessam Staff
April 1, 2018
Crownrise Finance Plc, a non-banking financial institution, is the first finance house to float a N1 billion bond in the Nigerian debt market and will be available to investors in April. Speaking at a stakeholders’ luncheon to introduce the investment note, Tokunbo Martins, director, other financial institutions department (OFID), Central Bank of Nigeria (CBN), said […]
Dangote Cement plans N300bn capital raise via bonds to fund expansion
Businessam StaffMarch 21, 2018
Dangote Cement Plc. has unveiled plans to raise N300 billion ($833m) in bonds to fund expansion of its operations across the continent. Brian Egan, its chief financial officer (CFO), disclosed this during an investor conference call, according to Bloomberg reports The debt instrument would be issued in tranches of N50 billion at a time whenever […]
Seplat announces $350m bond offering to repay existing debt
Businessam StaffMarch 13, 2018
Seplat Petroleum Development Company Plc., Nigerian indigenous oil and gas company listed on both the Nigeria Stock Exchange (NSE) and London Stock Exchange (LSE), Tuesday announced that it has priced its offering of $350 million in an aggregate principal amount of 9.25 percent senior notes due 2023. Information made available by the company to the NSE in […]
Islamic Development Bank set to launch $2.5bn sukuk bond
Businessam StaffMarch 5, 2018
The Islamic Development Bank (IDB), the largest development organisation in the Muslim world, is set to launch a $2.5 billion sukuk in the near term, Bandar Hajjar, its president said on Monday. Addressing a sukuk conference at the London Stock Exchange, Hajjar said the IDB’s funding plan for first half 2018 was the largest since […]
Domestic investors press for local listing of successful FG $2.5bn Eurobond
Kayode OgunwaleFebruary 19, 2018
Domestic investors have expressed satisfaction with the successful issuance of $2.5 Eurobond by the Nigeria government. Some of the investors who spoke with business a.m. said the Eurobond would give ample opportunity for local investors to make more money if it is available for trading in Nigeria trading floor. Mallam Shehu Mikail in his view […]
Nigeria sells $2.5bn euro bonds to replace debt
Agency ReportFebruary 16, 2018
By Remilekun Davies… Nigeria sold a record $4.8 billion of Eurobonds last year, most recently in November, when it issued $3 billion of 10- and 30-year debt. Yields on the latter rose six basis points to 7.7 percent by close Thursday, the highest since they were issued. Nigeria’s local bonds have an average yield of […]
Nigeria sells longer term treasuries at higher yield to draw funds
Businessam StaffFebruary 1, 2018
Nigeria raised N252.88 billion ($827m) at a treasury bill auction on Wednesday as investors piled demand into the higher yielding one-year debt, traders said Thursday, according to Reuters. The central bank sold N177.22 billion of one-year debt at a rate of 13.7 percent. It auctioned N6.09 billion of three-month debt at 12 percent and N69.57 billion […]
Nigerian government earns N196.3m from savings bond in January, says DMO
Ajose SehindemiJanuary 29, 2018
The Debt Management Office (DMO), has disclosed that Nigeria’s government made N196.3 million from sales of savings bond in January. The results of the sales published on the DMO website on Monday, showed that N73.05 million was allotted at 12.09 per cent with 121 successful subscriptions to mature in January 2020. It stated that N123.25 […]
South African government bonds weaker after S&P downgrade, rand firmer
South Africa governnentNovember 27, 2017
South African government bonds weakened on Monday after S&P Global Ratings on Friday downgraded the country’s local currency debt to sub-investment grade, while foreign currency debt was pushed deeper into “junk” territory. The rand ZAR=D3 recovered some of its lost ground after tumbling 2 percent on Friday following S&P’s announcement, with traders saying Moody’s decision […]
Egypt sells $1.728bn in one-year dollar-denominated T-bonds auction
Businessam StaffNovember 20, 2017
Egypt has sold 1.728 billion dollars in one-year dollar-denominated treasury bonds to local and foreign financial institutions in an auction, the Central Bank said Monday. The average yield for the bills, which mature on Nov. 20, 2018, was 3.496 percent. Appetite for Egypt’s domestic debt has grown since the central bank floated the pound currency […]