New Issue: Nigeria prices $1 billion 7 7/8% notes due 2032 at par

By Christine Van Dusen

Atlanta, Feb. 9 – The Federal Republic of Nigeria priced $1 billion of notes due in 2032 at par to yield 7 7/8% on Thursday, a market source said.

The notes were initially talked at a yield in the 8½% area.

Citigroup and Standard Chartered were the bookrunners for the Rule 144A and Regulation S deal.

Issuer:	The Federal Republic of Nigeria
Amount:	$1 billion
Maturity:	2032
Description:	Notes
Bookrunners:	Citigroup, Standard Chartered
Coupon:	7 7/8%
Price:	Par
Yield:	7 7/8%
Trade date:	Feb. 9
Rating:	Fitch: B+
Distribution:	Rule 144A and Regulation S
Price talk:	8½% area

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