Nigeria to revive Eurobond issuance by mid-2024

Bloomberg reports that Nigeria has hired investment banks including Citibank NA, JPMorgan Chase & Co., and Goldman Sachs, to seek advice on its first Eurobond issue since 2022. The international news agency in its report says the size of the Eurobond offer, which was expected before June, was yet to be determined. The Federal Government could raise as much as $1 billion in external borrowing this year to meet its spending needs, according to sources. The report also indicated that Nigeria included Standard Chartered Bank and Lagos-based Chapel Hill Denham as advisers as part of hires.