World Bank arm issues $75 mln debut Nigeria local currency bond

LAGOS Tue Feb 5, 2013 11:10am EST

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LAGOS Feb 5 (Reuters) - The World Bank's private sector arm issued 12 billion naira ($75 million) worth of its debut Nigeria local currency bond on Tuesday with a yield of 10.2 percent, a banker with knowledge of the deal said.

Total subscription for the five-year International Finance Corporation paper was around 20 billion naira, the banker said, meaning a 2.5 times oversubscription from the initial 8 billion ($50 million) equivalent they had initially planned to raise.

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