The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), has issued an Expression of Interest (EOI) calling for submissions from institutions who wish to work as Transaction Parties for a possible Issuance of Eurobond of up to $3.30 billion in the International Capital Market in 2020.
The Expression of Interest is for the appointment of international and local financial institutions who will serve as Book runners and Financial Advisers, and international and local law firms that will serve as Legal Advisers for the Eurobond Issuance. The Parties will be appointed on the basis of Open Competitive Bid.
As earlier communicated, Nigeria plans to raise external capital of up to $3.30 billion in the year 2020.
The $3.30 billion is made up of $2.80 billion (equivalent of N850 billion at the Budget Exchange Rate of N305/$1.00) to part-finance the Deficit in the 2020 Appropriation Act, and $500 million for the refinancing of Nigeria’s debut Eurobond of $500 million (6.75% $500M JAN 2021) which will mature on January 28, 2021.