Nigeria's Eurobond 8 times oversubscribed, shows confidence
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JOHANNESBURG — The London Stock Exchange says Nigeria's $1 billion Eurobond is eight times oversubscribed and demonstrates international confidence despite the oil-producing nation's economic woes.
The 15-year bond offering 7.875
An exchange statement says it's "a strong statement of international investor interest in building exposure to Nigeria's economy."
The bond is far from the $30 billion that Buhari proposed raising through loans — a request rejected by legislators last year.
Nigeria is suffering its worst recession in 25 years with inflation nearing 19