Government secures record bids for its Eurobond

March 21, 2019

The government has secured far more than it was targeting in its Eurobond sale.

This was after it closed the pricing in London Tuesday.

Results that JoyBusiness is picking up from the transaction indicates that the government has received over $21 billion in bids from investors across the world.

Details of the bond

The three billion dollar bond would be raised in three tranches – 7year, 12year and 31 years. Government is expected to pay 7.875% for the 7year, 8.125% for the 12year and 8.95% for the 31year bond.

We can however not establish for now whether the three billion dollars would be raised in the separate tranches. Analysts are already describing this as the highest ever fundraising by a Sub-Saharan African country.

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