DMO Invites Local Investors To Purchase A $3 Billion Eurobond

Domestic investors will be able to buy the $3 billion Eurobond that the Nigerian government will issue next month, according to the Debt Management Office (DMO).

DMO said in a statement that the exercise is aimed at local investors, as opposed to earlier Eurobond auctions that were only open to international investors.

The organization stated that it would organize meetings with interesting moneybags to explain the advantages of purchasing the notes.

Chapel Hill Denham Advisory Services Limited was picked out of eight businesses to oversee the sale of the papers to local investors, while JP Morgan and Citigroup Global Markets Limited will handle the sale to offshore investors, according to the debt office.

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The DMO stated that while it plans to raise $3 billion from the exercise, it may sell up to $6.2 billion if the country’s parliament approves it.

It should be remembered that the government last contacted the global debt capital market in 2018. Last year, it hoped to explore space, but the COVID-19 outbreak derailed those plans, forcing the agency to shift the Eurobond offer to a domestic sale.