The Nigerian government plans to issue a $500 million dollar-denominated domestic bond next week Monday to attract both local and international investors.
The Managing Director of Investment Banking, at United Capital Group Gbadebo Adenrele, disclosed this during a hybrid roadshow with investors organised by the Debt Management Office (DMO) on Thursday.
“The auction will begin on Monday of next week. We will open it on Monday of next week, and the market will be informed of the specifics, he said.
The Minister of Finance, Wale Edun had announced plans to commence the $500 million dollar-dominated bond to catalyze economic growth in the country.
Similarly, the Director General of the Debt Management Office (DMO), Patience Oniha, said that the settlement date for the domestic dollar bond auction would be 10 days after the auction date.
According to the government, the auction aims to raise $1 billion in total subscriptions through the bond sale, which is twice the amount it first proposed.
