Nigerian Chamber Says Eurobond Coupon Exceeded Market Expectations

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture has stated that the high demand for Nigeria's $2bn Eurobond indicates the interest rate offered on the bond was higher than market expectations. The association made this assertion in a press release regarding the oversubscription of the bond issue.

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has confirmed that the oversubscription of the $2 billion Eurobond exceeds market expectations. According to NACCIMA, this indicates that the coupon offered on the bond was significantly higher than what is currently available in the market. The association's statement suggests that investors have responded positively to the attractive terms presented by the bond issuance. This development highlights the strong demand for foreign currency-denominated debt instruments among Nigerian investors.