FG to borrow $5.5bn via Eurobonds-DMO

104
4473
DMO Director-General, Ms. Patience Oniha

The Federal Government is planning to sell as much as $5.5bn of Eurobonds in the next three months to fund capital projects and replace naira-denominated debt, the Debt Management Office (DMO) has said.

Yields on existing bonds rose to the highest in two months.

The new offer will bring the amount raised through Eurobond sales by the nation this year to more than $7bn.

The President Muhammadu Buhari administration, through the DMO, is planning to restructure the country’s debt portfolio to almost double the portion of foreign borrowing in a bid to reduce financing costs.

The Director-General, DMO, Patience Oniha, said on Wednesday in an interview in Abuja that the government was planning to raise $2.5bn in October to help fund 2017’s N7.4tn budget, Bloomberg reported on Thursday.

She said the government would sell the remaining $3bn before the end of the year to replace naira-denominated debt.

Oniha said that the government’s advisers “have told us the market is waiting.”

“Work is already ongoing and we are just waiting for a resolution from the National Assembly to proceed,” she added.

The yield on Nigeria’s $500m of Eurobonds due July 2023 rose four basis points by 1:26pm in London, extending Wednesday’s 15 basis-point climb, to 5.49 per cent, the highest since August 21.

That on the nation’s dollar securities due in 2032 increased six basis points to 6.91 per cent, the highest since July 18.

Citigroup and Standard Chartered Plc, which helped the Federal Government to sell bonds this year, will be retained as bookrunners for the $2.5bn, and are in talks with the government to also lead the $3bn sale, according to the DMO director-general.

The country’s overall foreign debt, which includes funds from partners and the Export-Import Bank of China, stood at $15.1bn as of June 30, while domestic debt was N14.1tn, the National Bureau of Statistics said on September 19.

According to Oniha, the government wants to increase the proportion of foreign borrowing to 40 per cent of total debt stock from under 30 per cent currently.

“That will reduce the government’s borrowing costs,” she said.

There was an almost 10 percentage-point spread between domestic and foreign borrowing costs and the restructuring debt plan, which she said, would help save the government hundreds of million dollars in financing costs.

Nigeria’s Eurobonds yield an average six per cent, compared with about 16 per cent for its naira debt, according to Bloomberg indexes

The Monetary Policy Committee had on September 26 left the key interest rate at a record high of 14 per cent, where it has been for more than a year.

Facebook Comments

104 COMMENTS

  1. price viagra australia|viagra suave seguro|waar kan ik viagra bestellen|buy prescription viagra|female viagra tablets in india|informacion sobre el viagra|cialis viagra it|viagra 100mg anwendun|viagra a tale of two pills|viagra bestellen bewertun|sexshop viagra uk|viagra price in wolverhampton|viagra and expiration|ordonnance cialis viagra|viagra 50mgs|comprar levitra cialis viagra|viagra et cialis canada|only today generic pack viagra|recette viagra|look here viagra how to buy|order cheap generic viagra|free viagra pill|viagra im internet bestellen|viagra benzos|comprar viagra online portugal|ed express viagra|china viagra generic|wow look it herbal viagra|herbal viagra suppliers|no prescription viagra sample|la vente viagra au ru|viagra online apotheke co|buy viagra greece|buy liquid viagra for women|potenzmittel viagra net|fast delivery viagra|viagra cheapest online sellers|low price viagra gold|cheap viagra pills canada|viagra generico basso prezzo|100 mg viagra super active|wow generic viagra cheapest|viagra lnger sex|viagra order online no|where can i viagra i buy|viagra 100 mg costo|cananda viagra|buy viagra 25|viagra without a script|cialis viagra levitra farmaci|safe purchase viagra online|canada viagra prescription|buy us viagra|can take metoprolol viagra|viagra professional uk shop|viagra sellers in dubai|mrp india viagra|generic viagra in singapore|viagra side effects treatment|only here buy viagra online uk|buy viagra manchester uk|viagra dapoxetine|viagra rezept kaufen|cheapest prices viagra online|viagra online pharmacy cheap|venta viagra en farmacia|usefull link price of viagra|pfizer viagra preisnachlsse|best viagra pills cheap|viagra a vendre montrea|price viagra uk|shipping viagra to canada|wholesale uk viagra pills|viagra hipertension|viagra generico forum|viagra y cocain|look there usa viagra sales|livraison ultra rapide viagra|viagra generico espan|viagra generic brand|look there buy viagra now|discount viagra overnight|viagra tesco 2012|achat 10 pillue viagra|viagra y bebida energetica|viagra nz muestra libre|viagra online secure|cheap viagra jelly|only today 10mg viagra|express american viagra buy|lowest price viagracialis|viagra overdose 200mg|buy viagra canada cheap|lov cost viagra super active|brand viagra uk|uk buy viagra over counter|enter site natural viagra|viagra montreal|wow where to buy viagra|look there very cheap viagra|drogue gnrique pour viagra|buy online viagra in canada|uk viagra low cost|toledo generic viagra|wow cheapest viagra|viagra massage oil|viagra prescription nsw|viagra stroke|cialis viagra otro|viagra kopa online|viagra cheap online rx|viagra generico da medley|orden de viagra barata|viagra come usar|comprar viagra gibraltar|viagra without rx|nebenwirkungen cialis viagra|lowest cost india viagra|viagra online shop prices|the best site best viagra|cuanto cuesta viagra|get viagra online with paypal|livraison garantie de viagra|best online viagra website|viagra definition|is viagra online legal|how long can one use viagra|viagra cause hair loss|best viagra werbung|viagra un peu|viagra trkei rezeptfrei|chantillons viagra|eviagra test|viagra nhs free|viagra users|viagra mercado libre|viagra portugal|qual preco do viagra generico|buy paypal viagra|red viagra price|can nhs prescribe viagra|natural forms of viagra|only here viagra online order|wow look it viagra cookies|buy viagra nairobi|viagra english|longterm effects of viagra|viagra buy online forum|how do there sale viagra|acquisto viagra generico line|caverta vs viagra|ehow viagra|try it viagra propranodol|viagra online from usa|viagra bc pharmacy|buy viagra and overseas|precio viagra origina|achat viagra par interne|can you get viagra in dubai|viagra online versand paypal|comprar viagra india|preis viagra pfizer 50 mg|buying generic viagra canada|viagra jelentse|comprar levitra viagra herbal|viagra mal di test|viagra 100mg cena|generic viagra is it the same|just try viagra 30 mg|viagra buy in australia|viagra best deal in india|viagra net q|cheap viagra credit|viagra naturale peperoncin|other medical uses for viagra|we recommend viagra tabs 100mg|cheap original viagra uk|i use it viagra dosage|where to get viagra london|viagra bula generico|viagra inyectable|just try mexico viagra|viagra langzeitfolgen|pour acheter du viagra|viagra results photos|comprare viagra yaho|viagra richtig verwenden|generic viagra gnc|donde comprar viagra tenerife|the best site viagra 20 mg|online canada viagra|viagra softabs generic|viagra brand online uk|how to get free viagra 100mg|how much viagra cost|only here info viagra|cialis vs viagra mg|buy viagra online san diego|cheapest viagra anywhere|only now viagra sale cheap|can you mix viagra and priligy|trial viagra pack|womens viagra online uk|we use it buy viagra on line|very good site buy viagra uk|opiniones viagra online|viagra generique canada|generic viagra ship overnight|red pill like viagra|preise viagra pfizer|viagra generico doc prezzo|viagra versus genericos|indian viagra manufacturer|active ingredients in viagra|viagra pill cutter splitter|generic viagra levitra|cheap viagra 25mg canada|all natura viagra|soft tabs viagra generic|sale of viagra professional|buy viagraa|real viagra without a rx|wow viagra prescriptions|how to buy viagra de next day|authorized viagra dealers|viagra professionale|4 generic viagra softtabs|japan ni viagra arimasen ka|australian generic viagra|buy viagra in bali|levitra plus fort viagra|buy viagra us|viagra price 100 mg|i can buy viagra generic|much does viagra cost ontario|viagra getting a prescription|viagra quickie|viagra jelly sachet|online viagra dangers|wirkt viagra besten|viagra savings card|viagra 25 mg ohne rezep|viagra 100mg preis 4|try it viagra samples|viagra 25 mg online|viagra 25mg online cheap|generic viagra in us|viagra e cialis|viagra argentina consumo|buy viagra ho chi minh city

    [url=http://viagraaqwe.com/]cheap viagra,online viagra,viagra online,viagra cheap,buy viagra,viagra,viagra,viagra cheap,buy viagra,buy viagra online[/url]
    cheap viagra,online viagra,viagra online,viagra cheap,buy viagra,viagra,viagra,viagra cheap,buy viagra,buy viagra online

    price viagra australia|viagra suave seguro|waar kan ik viagra bestellen|buy prescription viagra|female viagra tablets in india|informacion sobre el viagra|cialis viagra it|viagra 100mg anwendun|viagra a tale of two pills|viagra bestellen bewertun|sexshop viagra uk|viagra price in wolverhampton|viagra and expiration|ordonnance cialis viagra|viagra 50mgs|comprar levitra cialis viagra|viagra et cialis canada|only today generic pack viagra|recette viagra|look here viagra how to buy|order cheap generic viagra|free viagra pill|viagra im internet bestellen|viagra benzos|comprar viagra online portugal|ed express viagra|china viagra generic|wow look it herbal viagra|herbal viagra suppliers|no prescription viagra sample|la vente viagra au ru|viagra online apotheke co|buy viagra greece|buy liquid viagra for women|potenzmittel viagra net|fast delivery viagra|viagra cheapest online sellers|low price viagra gold|cheap viagra pills canada|viagra generico basso prezzo|100 mg viagra super active|wow generic viagra cheapest|viagra lnger sex|viagra order online no|where can i viagra i buy|viagra 100 mg costo|cananda viagra|buy viagra 25|viagra without a script|cialis viagra levitra farmaci|safe purchase viagra online|canada viagra prescription|buy us viagra|can take metoprolol viagra|viagra professional uk shop|viagra sellers in dubai|mrp india viagra|generic viagra in singapore|viagra side effects treatment|only here buy viagra online uk|buy viagra manchester uk|viagra dapoxetine|viagra rezept kaufen|cheapest prices viagra online|viagra online pharmacy cheap|venta viagra en farmacia|usefull link price of viagra|pfizer viagra preisnachlsse|best viagra pills cheap|viagra a vendre montrea|price viagra uk|shipping viagra to canada|wholesale uk viagra pills|viagra hipertension|viagra generico forum|viagra y cocain|look there usa viagra sales|livraison ultra rapide viagra|viagra generico espan|viagra generic brand|look there buy viagra now|discount viagra overnight|viagra tesco 2012|achat 10 pillue viagra|viagra y bebida energetica|viagra nz muestra libre|viagra online secure|cheap viagra jelly|only today 10mg viagra|express american viagra buy|lowest price viagracialis|viagra overdose 200mg|buy viagra canada cheap|lov cost viagra super active|brand viagra uk|uk buy viagra over counter|enter site natural viagra|viagra montreal|wow where to buy viagra|look there very cheap viagra|drogue gnrique pour viagra|buy online viagra in canada|uk viagra low cost|toledo generic viagra|wow cheapest viagra|viagra massage oil|viagra prescription nsw|viagra stroke|cialis viagra otro|viagra kopa online|viagra cheap online rx|viagra generico da medley|orden de viagra barata|viagra come usar|comprar viagra gibraltar|viagra without rx|nebenwirkungen cialis viagra|lowest cost india viagra|viagra online shop prices|the best site best viagra|cuanto cuesta viagra|get viagra online with paypal|livraison garantie de viagra|best online viagra website|viagra definition|is viagra online legal|how long can one use viagra|viagra cause hair loss|best viagra werbung|viagra un peu|viagra trkei rezeptfrei|chantillons viagra|eviagra test|viagra nhs free|viagra users|viagra mercado libre|viagra portugal|qual preco do viagra generico|buy paypal viagra|red viagra price|can nhs prescribe viagra|natural forms of viagra|only here viagra online order|wow look it viagra cookies|buy viagra nairobi|viagra english|longterm effects of viagra|viagra buy online forum|how do there sale viagra|acquisto viagra generico line|caverta vs viagra|ehow viagra|try it viagra propranodol|viagra online from usa|viagra bc pharmacy|buy viagra and overseas|precio viagra origina|achat viagra par interne|can you get viagra in dubai|viagra online versand paypal|comprar viagra india|preis viagra pfizer 50 mg|buying generic viagra canada|viagra jelentse|comprar levitra viagra herbal|viagra mal di test|viagra 100mg cena|generic viagra is it the same|just try viagra 30 mg|viagra buy in australia|viagra best deal in india|viagra net q|cheap viagra credit|viagra naturale peperoncin|other medical uses for viagra|we recommend viagra tabs 100mg|cheap original viagra uk|i use it viagra dosage|where to get viagra london|viagra bula generico|viagra inyectable|just try mexico viagra|viagra langzeitfolgen|pour acheter du viagra|viagra results photos|comprare viagra yaho|viagra richtig verwenden|generic viagra gnc|donde comprar viagra tenerife|the best site viagra 20 mg|online canada viagra|viagra softabs generic|viagra brand online uk|how to get free viagra 100mg|how much viagra cost|only here info viagra|cialis vs viagra mg|buy viagra online san diego|cheapest viagra anywhere|only now viagra sale cheap|can you mix viagra and priligy|trial viagra pack|womens viagra online uk|we use it buy viagra on line|very good site buy viagra uk|opiniones viagra online|viagra generique canada|generic viagra ship overnight|red pill like viagra|preise viagra pfizer|viagra generico doc prezzo|viagra versus genericos|indian viagra manufacturer|active ingredients in viagra|viagra pill cutter splitter|generic viagra levitra|cheap viagra 25mg canada|all natura viagra|soft tabs viagra generic|sale of viagra professional|buy viagraa|real viagra without a rx|wow viagra prescriptions|how to buy viagra de next day|authorized viagra dealers|viagra professionale|4 generic viagra softtabs|japan ni viagra arimasen ka|australian generic viagra|buy viagra in bali|levitra plus fort viagra|buy viagra us|viagra price 100 mg|i can buy viagra generic|much does viagra cost ontario|viagra getting a prescription|viagra quickie|viagra jelly sachet|online viagra dangers|wirkt viagra besten|viagra savings card|viagra 25 mg ohne rezep|viagra 100mg preis 4|try it viagra samples|viagra 25 mg online|viagra 25mg online cheap|generic viagra in us|viagra e cialis|viagra argentina consumo|buy viagra ho chi minh city

LEAVE A REPLY

Please enter your comment!
Please enter your name here