JUST IN: Nigeria to issue $500 million domestic dollar bond on Monday

The Federal Government of Nigeria plans to issue its dollar-denominated domestic bond next week Monday, as it hopes to raise $500 million from local and foreign investors.

Dr Gbadebo Adenrele, Managing Director, of Investment Banking, at United Capital Group, disclosed this during a hybrid roadshow with investors organised by the Debt Management Office (DMO) on Thursday.

This is the first of its kind in the country, the bond offers bullet repayment at maturity in US dollars, with full repayment of the principal amount at the end of the five-year term.