LONDON, May 21 (IFR) - Nigeria has sent a request for proposal to banks for an international bond offering, according to sources.
Nigeria raised US$2.5bn through a dual-tranche offering in February. It sold US$1.25bn 12-year notes and a US$1.25bn 20-year tranche.
The February 2030s are bid at 99.349 to yield 7.224% according to Tradeweb, and the February 2038s are trading at 99.917 to yield 7.70%.
The February trade was Nigeria’s second in less than three months, after it raised US$3bn through an offering of 2027s and 2047s in November.
Nigeria is rated B2/B/B+. (Reporting by Robert Hogg; Editing by Sudip Roy)