Nigeria’s Eurobond Yield with a maturity of 2022 closed trading on Friday at a yield of 10.6% up from 8.9% at the end of April 2022. The bond is expected to mature in 5 years.
It was also trading for 6.424% at the end of December 2021 and opened the year at about 6.384%
The Eurobond has a total face value of $1.5 billion and was borrowed at a coupon of about 6.5% when it was initially issued.
Bond yields have risen in the last few weeks driven by the increase in US Interest rates by the US Federal Reserves. The US Fed commenced rate hikes in response to the record-high inflation rate experienced in the world’s largest economy. The US Inflation rate stood at 8.3% in April.