Nigeria: Eurobond Yields Fall, As Sanusi Assures of Reserves Stability

7 December 2012

Nigeria's Eurobond yields fell for the seventh day after the Governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, said the nation's financial system was not under threat from the withdrawal of speculative investments.

Borrowing costs on the $500 million dollar debt due January 2021, slid four basis points, or 0.04 percentage point, to 4.162 per cent, the lowest since it was issued in January 2011, according to data compiled by Bloomberg. The yields have dropped 213 basis points from a high of 6.29 per cent as at December 21, 2011.

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