New Issue: Nigeria prices $500 million 6¾% notes due 2021 at 98.223 to yield 7%

By Christine Van Dusen

Atlanta, Jan. 21 - The Federal Republic of Nigeria priced $500 million 6¾% notes due Jan. 28, 2021 (/B+/BB) at 98.223 to yield 7%, or Treasuries plus 356.6 basis points, a market source said Friday.

Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal, which was talked at a yield in the 7% area.

Issuer:	The Federal Republic of Nigeria
Amount:	$500 million
Maturity:	Jan. 28, 2021
Description:	Notes
Bookrunners:	Citigroup, Deutsche Bank
Coupon:	6¾%
Price:	98.223
Yield:	7%
Spread:	Treasuries plus 356.6 bps
Trade date:	Jan. 20
Settlement date:	Jan. 28
Ratings:	Standard & Poor's: B+
	Fitch: BB
Distribution:	Rule 144A/Regulation S
Price talk:	7% area

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