ABUJA, Sept 27 (Reuters) – Nigeria is considering issuing additional Eurobonds, subject to its budget limits, after a successful debt sale last week that attracted more than four times the amount on offer, the head of the Debt Management Office (DMO) said on Monday.
The West African country raised $4 billion via a Eurobond issue last week after investors submitted $12.2 billion in demand for an initial offering of $3 billion, the DMO said.
Nigeria issued the debt in tranches of three tenors. It raised $1.25 billion for seven years at a yield of 6.125% and sold a 12-year bond at 7.375% to fetch $1.5 billion. A 30-year tranche of $1.25 billion was sold at 8.25%.
Bids were received from Europe, the United States and Asia with participation from local investors. The government had arranged a two-day call with investors last week, with the DMO saying the bond would be priced following the meetings. (Reporting by Chijioke Ohuocha; Editing by Hugh Lawson and Timothy Heritage)