Money Market

CBN Mops Up N231.25bn As Liquidity Remains Tight

By Nse Anthony-Uko (Sundiata Finance) – The Central Bank of Nigeria (CBN) on Thursday sold N98 billion of treasury securities bringing its Treasury Bills sale to N231 billion within the week in its effort to keep liquidity tight to support the naira. The local currency remained stable selling at N363 to the dollar at the parallel market. Traders said the ...

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Zenith Bank, UBA, Others Eurobond Offers Ease Forex Maturity Gaps – Fitch

By Nse Anthony-Uko (Sundiata Finance) – Fitch Ratings, a London based credit rating agency said, Zenith Bank Plc, United Bank for Africa Plc (UBA), Access Bank Plc and Fidelity Bank Plc Eurobond offers marks a small steps toward reducing maturity mismatches between foreign-currency (FC) assets and liabilities. Analysts at Fitch said, the four banks Eurobond offer is a credit positive ...

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Fidelity Bank Sells $400m Bonds With 10.75% Yield

By Nse Anthony-Uko (Sundiata Finance) – Fidelity Bank Plc sold the highest-yielding Eurobond from emerging markets this year, joining a rush for issuance before higher United States interest rates push up borrowing costs. The lender issued $400m of five-year securities with a 10.75 per cent yield on Wednesday, Bloomberg quoted a person familiar with the matter who asked not to ...

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GTBank Prepares $400m Notes Offer As Adefala Joins Board

By Nse Anthony-Uko (Sundiata Finance) – The board of directors of Guaranty Trust Bank (GTBank) Plc has approved and appointed Mrs. Victoria Osondu Adefala as an independent non-executive director even as it the bank informed its holders of $400 million, six per cent notes due 2018 to tender any and all of their securities for purchase by GTBank. In a ...

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CBN Sells $195m, Naira Recovers, Closes At N364/Dollar

By Nse Anthony-Uko (Sundiata Finance) – The Central Bank of Nigeria on Tuesday intervened in the inter-bank foreign exchange market with the sale of $195m. This came just as the naira appreciated to 364 per United States dollar at the parallel market, up from the 365/dollar recorded on Friday. Figures released by the CBN showed that the regulator offered the ...

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FMDQ Approves Wema Bank N50bn Commercial Paper

By Nse Anthony-Uko (Sundiata Finance) — FMDQ OTC Securities Exchange (FMDQ) said it has approved the registration of Wema Bank Plc N50 billion commercial paper (CP) programme to its platform. The Exchange in a release to media, said this CP Programme registration strategically positions Wema Bank to easily and quickly raise short-term finance from the debt market at a time ...

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Nigeria N100bn Sukuk Finally Debut September 18

As FG Launches Pre-offer Roadshow By Nse Anthony-Uko (Sundiata Finance) – Nigeria will finally make its N100 billion Sukuk bond debut on September 18, 2017, to enable it raise money for infrastructure funding, Debt Management Office (DMO) officials confirmed on Wednesday. The debut Sovereign Sukuk is for N100 billion with a tenor of seven years, and has been certified as ...

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Plans N135bn Bond Auction By Nse Anthony-Uko (Sundiata Post) — The Debt Management Office has over the past five months raised N5.15 billion through the Federal Government of Nigeria Savings Bond which it launched in March this year, even as it sets out to raise N135 billion through the FGN Bonds this month. In an offer circular on Tuesday, the ...

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