Nigeria plans to price tap of naira-denominated bonds later today

Thu Jul 31, 2014 10:23am EDT

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LONDON, July 31 (IFR) - The Federal Republic of Nigeria plans to price a tap of its 2017 and 2022 naira-denominated global depositary notes later today.

Books have gone subject and guidance remains unchanged at 11.35% area for the 15.1% April 2017 bonds and 12.25% area for the 16.39% January 2022 bonds.

The sovereign, rated Ba3/BB-/BB-, opened books on the trade during New York hours on Wednesday.

Citigroup is global coordinator and joint bookrunner along with Stanbic and Standard Chartered. (Reporting By Abhinav Ramnarayan, Editing by Helene Durand)