ECOMOMY
Nigeria, others get AfDB’s $40m infrastructure lifeline:
A new lifeline for infrastructure funding has been lined up for Nigeria and the rest of the continent’s economies, under the Africa Infrastructure Investment Fund (AIIF3), with $40 million ready for disbursements. An initiative approved by the African Development Bank (AfDB) and the third in a series of equity investments, is a closed-ended pan-African infrastructure fund managed by South Africa-based Africa Infrastructure Investment Managers (AIIM). According to AfDB, AIIF is Africa-based and features five regional offices in South Africa, Nigeria, Cote d’Ivoire, and Kenya, translating to on-the-ground knowledge and strong relationships to source infrastructure investment opportunities– Guardian
FG’s $2.86bn Eurobond oversubscribed by $6.6bn
FG reported during the week that its $2.86bn Eurobond received a combined offer of $9.5bn, which further demonstrated the confidence of international capital market investors in the Nigerian economy. The Bond was issued under the Government Global Medium Note Programme, and the currently issued bond is the Sixth Eurobond issuance following issuances in 2011, 2013, two in 2017, one early in the year 2018, the current issue represent the first Triple –Tranche offering of the FG, which comprises of $1.18bn seven-year series, $1bn 12-year series and a $750m 30-year series. Read More:

Category: Daily Market Report