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Vol 48 No 3

Published 2nd February 2007


Nigeria

Bond breakthrough

Some might consider it risky for a Nigerian bank to issue a US$300 million Eurobond on the international capital markets for the first time - just three months before the country holds critical national elections. In fact, the issue was oversubscribed by $221 mn. and with a yield of 8.625% for the bond, the Lagos-based Guaranty Trust Bank (GTB) got a better price than recent issues for banks from Russia and Kazakhstan.

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