Nigeria Plans Eurobonds, Still in Talks with World Bank –DMO

Nigeria will issue at least a $2.5 billion Eurobond this year and is still in talks with the World Bank for concessionary loans, the head of the Debt Management Office (DMO) told Reuters on Tuesday in an interview.

Patience Oniha, director general of the Debt Management Office said Nigeria would issue $2.5 billion Eurobond which would take the proportion of its foreign debt close to 40 percent, up from 23 percent, a target its working on as part of its medium-term plan.

She said the DMO is also considering Eurobonds or syndicated loans for $3 billion to repay part of a local treasury bill holding worth 2.7 trillion naira ($8.8 billion).