The Federal Government will, on or before Friday, announce the result of the $500 million domestic dollar bond recently offered to the Nigerian public. A source close to the deal disclosed this to BusinessDay under anonymity, saying the government will put up an official statement on this. On August 19, 2024, the Federal Government announced the offering of a $500 million domestic US dollar bond with a maturity of five years and a fixed coupon of 9.75 percent per annum. What this means is that the investors are lending money in dollars to the Federal Government for five years with a promise to receive 9.75 percent in interest every year. The offer closed on August 30, 2024, and the result is expected on Friday. Most of the analysts polled by BusinessDay said they expected the offer to be oversubscribed.
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