By Christine Van Dusen
Atlanta, July 2 - Nigeria priced $1 billion of notes in (//BB-) two tranches due July 12, 2018 and 2023 with bookrunners Citigroup and Deutsche Bank, a market source said.
The Rule 144A and Regulation S deal included $500 million 5 1/8% notes due 2018 that priced at 98.917 to yield 5 3/8%.
The second tranche totaled $500 million 6¾% notes due 2023 that came to the market at 98.193 to yield 6 1/8%.
The proceeds will be used to finance infrastructure investments.
| Issuer: | Nigeria
|
| Amount: | $1 billion
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Deutsche Bank
|
| Trade date: | July 2
|
| Settlement date: | July 12
|
| Distribution: | Rule 144A and Regulation S
|
| Rating: | Fitch: BB-
|
|
|
| Five-year notes
|
| Amount: | $500 million
|
| Maturity: | July 12, 2018
|
| Coupon: | 5 1/8%
|
| Price: | 98.917
|
| Yield: | 5 3/8%
|
|
|
| 10-year notes
|
| Amount: | $500 million
|
| Maturity: | July 12, 2023
|
| Coupon: | 6¾%
|
| Price: | 98.193
|
| Yield: | 6 1/8%
|
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