The Federal Republic of Nigeria has successfully launched a $2.2 billion Eurobond in the international market, attracting a remarkable $9 billion in investor interest.

This issuance is divided into two tranches: a 6.5-year bond maturing in 2031 and a 10-year bond maturing in 2034.

According to the Debt Management Office (DMO), $700 million was allocated to the 2031 tranche, while $1.5 billion was designated for the 2034 tranche.

The bonds were priced with a coupon and re-offer yield of 9.625% for the shorter term and 10.375% for the longer term.

The issuance garnered a diverse range of investors from various regions, including the United Kingdom, North America, Europe, Asia, the Middle East, and Nigeria. This widespread interest reflects strong investor confidence in Nigeria's macroeconomic policies and fiscal management.

The DMO reported that demand came from fund managers, insurance and pension funds, hedge funds, banks, and other financial institutions, with the order book peaking at $9 billion—nearly 4.18 times the amount offered.

Finance Minister Olawale Edun characterized the successful issuance as indicative of growing confidence in President Bola Ahmed Tinubu’s economic stabilization efforts.

He noted that this broad investor appetite aligns with Nigeria's objectives to diversify its funding sources and enhance its engagement with international markets.

Central Bank Governor Olayemi Cardoso emphasized that this achievement underscores Nigeria's improved liquidity position and resilience in the international credit market, which supports the government's financing needs.

DMO Director-General Patience Oniha described the pricing as a "landmark achievement," highlighting the transparency and credibility upheld in Nigeria’s international financial dealings.