Nigeria launches $3 billion of 10- and 30-year eurobonds

By Rebecca Melvin

New York, Nov. 20 – The Federal Republic of Nigeria launched $3 billion of 10- and 30-year eurobonds (expected ratings: B/B+) on Monday to yield 6½% and 7 5/8%, respectively, for the tranches of $1.5 billion each, according to a market source.

Final pricing on the Rule 144A and Regulation S bonds was expected later on Monday.

The launch pricing was considered cheap, according to one market source.

The deal was marketed by Citigroup and Standard Chartered plc.

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