Do Nigerian Banks Float Bonds?

oseitutu · #1 (**permalink**) 5th July 2007, 12:36 AM

It seems there is a wave of Public Offers sweeping through Nigeria, especially the Banks. Do Nigerian Banks float Bonds at all? All they seem to be interested in is public offers, nothing more.Does anyone have information please or am I missing something?

windywendy · #2 (**permalink**) 5th July 2007, 02:22 PM

I thought GTB and FBN just concluded floating bonds? Although they targeted the international market.

oseitutu · #3 (**permalink**) 5th July 2007, 03:45 PM

Quote:

Originally Posted by windywendy

I thought GTB and FBN just concluded floating bonds? Although they targeted the international market.

Now that you said it, it makes a bit of sense but not so much. International market suggests they will pay international interest rates which are low generally, ranging from 3-7%. If they float in Nigeria, they will be expected to pay more, even more than the normal lending rate and also higher than FGN bonds(9-12%).

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