LONDON, Feb 15 (IFR) - Nigeria has tightened pricing on a US dollar dual-tranche bond offering, according to a lead.
The sovereign announced guidance of Treasuries plus 437.5bp area on a 12-year bond and plus 475bp area on a 20-year tranche. The combined book is in excess of US$6.25bn.
Guidance compares with initial pricing levels of plus 450bp area and plus 487.5bp area, respectively.
The 144A/Reg S deal is today’s business via Citigroup (B&D) and Standard Chartered. Expected issue ratings are B2 by Moody’s, B by S&P and B+ by Fitch. (Editing by Ian Edmondson)