This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Bond Market News
Nigeria May Pay $4bn in Interest if Senate Blocks Debt Restructuring Plan
January 4, 2023
Nigeria’s President Muhammadu Buhari said that the nation will have to pay an extra $4bn in the form of additional interest to service debts if the Senate blocks its plan to restructure government loans from the central bank. Last week, the Senate suspended a session to consider the President’s request to convert NGN 22.7tn ($50.6bn) in advances from the central bank into bonds repayable over 40 years with some lawmakers noting that the borrowing is unconstitutional.
Nigeria’s dollar bonds were however trading higher – its 6.125% 2028s were up 0.68 points to 78.18, yielding 11.41%.
For the full story, click here
Go back to Latest bond Market News
Related Posts:Nigeria Explores Debt Restructuring
October 13, 2022
Pakistan and Nigeria Downgraded to CCC+ and B3
October 25, 2022
Long-Dated Bonds of EM Sovereigns Drop Over 3%
November 18, 2022
BondbloX is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.