FG appoints JP Morgan, others on $6.2bn fresh borrowing

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The federal government has appointed transaction advisers to facilitate the issuance of Eurobonds in the international capital market.

According to a statement released by the Debt Management Office, DMO,  six institutions were approved by the Federal Executive Council at its meeting on Wednesday to advise on the Eurobond issuance.

It further explained that the transaction advisers were selected from an Open Competitive Bidding Process in line with the Public Procurement Act, 2007.

The statement read, “Activities by Nigeria towards the issuance of Eurobonds in the International Capital Market inched forward today with the appointment of Transaction Advisers by the Federal Government.

“Typical of Eurobond issuance, transaction advisers of various categories are required to work with an issuer, in this case Nigeria, to ensure the success of the Transaction.”

The DMO said certain institutions were approved by the Federal Executive Council at its meeting on Wednesday to advise on the Eurobond issuance.

The institutions include International Bookrunner (JP Morgan, Citigroup Global Markets Limited), Joint Lead Managers (Standard Chartered Bank and Goldman Sachs), Nigerian Bookrunner (Chapel Hill Denham Advisory Services Ltd), Financial Adviser (FSDH Merchant Bank Ltd), International Legal Adviser (White & Case LLP), and Nigerian Legal Adviser (Banwo & Ighodalo).

The DMO further explained that the transaction advisers of various categories are required to work with Nigeria, to ensure the success of the Transaction.

 




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