FG plans to issue $300m Diaspora Bond by June
The federal government plans to raise $300 million by selling a diaspora bond targeting Nigerians living abroad, one of the book runners on the deal, First Bank told Reuters on Tuesday.
The bond, which will have a maturity of five to seven years, is expected to be issued by June, the bank said. Nigeria has asked Goldman Sachs and Stanbic IBTC Bank , the local unit of South Africa’s Standard Bank , to advise it on the sale of the maiden bond. It also appointed United Bank for Africa as one of the bookrunners on the deal.
Nigeria is the world’s fifth-biggest destination for international remittances with 5 million Nigerians living abroad sending money back to relatives, according to Western Union.
[ThisDay]
Related Posts
-
FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank (UK) Limited, an independently incorporated subsidiary of...
- August 1, 2018
-
The Worrisome Trend of Sensational Social Media “Journalism” and the Impact On Legitimate Business Concerns: Recent Travails of FCMB, GTBank and First BankOn June 25, 2018 I woke up to yet...
- June 26, 2018
-
Azman Air commences flight operation in SokotoAzman Air Thursday commenced flight operation to Sokoto state....
- February 21, 2015
-
NRC increases Lagos goods trains, eyes fuel haulageThe Nigerian Railway Corporation says it has increased its...
- June 23, 2016
