By Chinwendu Obienyi
The Nigeria Debt Management Office said it has filed a registration statement on behalf of the Federal Government with the U.S Securities and Exchange Commission for the purpose of floating a new Diaspora bond.
In a statement issued yesterday, the debt office further stated that listing application will be made to the UK for the admission of the global debt offer onto the UK Listing Authority and the London Stock Exchange (LSE) for the trading of the bond to ensure the bonds were admitted to trading on LSE’s regulated market.
“Nigeria has filed a registration statement for the Bonds with the United States Securities and Exchange commission. Application will be made for the Bonds to be admitted to the official list of the UK Listing Authority and to London Stock Exchange plc for the bonds to be admitted to the trading on the London Stock Exchange’s regulated market”
“The bonds will be direct general obligations of Nigeria and will be denominated in U.S dollars and the international Joint Lead Managers are Bank of America Merrill Lynch and the Standard Bank of South Africa Limited. The Nigeria Joint Leaders are First Bank of Nigeria and United Bank for Africa Plc”, it said.
The office thereafter said that pricing was expected to occur following the investor meetings and subject to market conditions.
It said that Diaspora bond was used to raise funds from Nigerians in the Diaspora to finance capital projects and provide an opportunity for them to participate in the development of the country.