Nigeria plans reopening of naira bonds

Nigeria plans reopening of naira bonds

Published: July 17, 2014

Debt management agency and central bank reps will meet investors in Europe and US next week.

Nigeria could reopen its existing local currency bonds to international investors following a roadshow next week.

The republic has mandated Citi, Stanbic IBTC and Standard Chartered Bank to run a series of meetings in Europe and the US, beginning on Monday July 21.

Abraham Nwankwo, director general of Nigeria’s debt management office, will meet investors alongside other representatives from the office and the central bank. The meetings will be held in Switzerland, London and New York.

Following the presentations, any of all of Nigeria’s naira-denominated 2016, 2017, 2019 and 2022 bonds could be reopened in a format clearable under the US’s Depository Trust & Clearing Corporation and Euroclear.