Nigeria’s sovereign Eurobonds have staged a broad-based rally, pushing yields across the curve below 8 percent for the first time on record, signaling improved foreign portfolio investor sentiment toward Africa’s most populous country. The move marks a particularly notable milestone for the country’s 2051 notes, which were issued in 2021 at a coupon of 8.25 percent and had never traded below the 8 percent yield threshold until now. The breakthrough underscores the strength of demand for Nigeria’s external debt even as global borrowing costs
Nigeria’s sovereign Eurobonds have staged a broad-based rally, pushing yields across the curve below 8 percent for the first time on record, signaling improved foreign portfolio investor sentiment toward Africa’s most populous country. The move marks a particularly notable milestone for the country’s 2051 notes, which were issued in 2021 at a coupon of 8.25 percent and had never traded below the 8 percent yield threshold until now. The breakthrough underscores the strength of demand for Nigeria’s external debt even as global borrowing costs