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Nairaland Forum / Nairaland / General / Business / Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds (15152 Views)
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Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by Nobody: 9:28pm On Feb 09, 2017 |
teflondoncuzo: why are we so dull and lacking in initiative in this country, you have access to the internet so what does it take for you to type "what are bonds" into google? |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by ephi123(f): 9:29pm On Feb 09, 2017 |
PassingShot: Those differences you are pointing out are all very minor, the key issue here is that money still has to be paid back (no matter how lax or stringent the initial conditions were), there is nothing to celebrate about taking on more debt, it is not free money afterall plus the government will still pay interest on it as it cannot even default unlike with corporate bonds where companies can claim bankruptcy. 2 Likes 1 Share |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by maskid(m): 9:30pm On Feb 09, 2017 |
PassingShot: bottom line is u are plain clueless and bereft of common sense. just swallow the hard pill of admittance instead of trying so hard to justify ur ignorance. cant u see u have been served cos u goofed. reminds me of "stealing is not corruption " thingy. 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by grandstar(m): 9:30pm On Feb 09, 2017 |
PassingShot: The rates are quite high. It shows they consider Nigeria high risk. 2 Likes |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by ephi123(f): 9:31pm On Feb 09, 2017 |
vodutive: SPENT On Education. Those are the key words. The money was not looted, it was budgeted and spent on education. Have you seen the meagre allocation given to Education in the latest budget? And you expect Nigeria to be at par with South Africa? It ain't happening dude. 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by maskid(m): 9:32pm On Feb 09, 2017 |
ephi123: just leave the little boy. "the stridency of his cluelessness has reached the heights of impiety" .. wole soyinka 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by seeker4life: 9:32pm On Feb 09, 2017 |
unclezuma:Ur head dey there had to log in cuz of ya...same story all the way!!!ppl don't just get that the system will always be thesame |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by ephi123(f): 9:35pm On Feb 09, 2017 |
maskid: This grammar no be small |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 9:36pm On Feb 09, 2017 |
vodutive: You didn't have to demean her, you could have just chosen not to respond. 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by Nobody: 9:37pm On Feb 09, 2017 |
ephi123: My friend you have to have the vision to envisage the budget needed before you can even loot...and by the way they loot in SA. I never told you we are catching up with SA, I am telling you that if small loan of $1b is what we are making noise about then I am predicting the future and telling you why in 20 years, Nigerian graduates will be unemployable (as if they are now) and unable to compete with their South African colleagues who will be taking their jobs in Nigeria because they are better qualified. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by BabaCommander: 9:38pm On Feb 09, 2017 |
PassingShot:At the end of the grammar, it's still the same borrowing. 3 Likes |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 9:49pm On Feb 09, 2017 |
UncleSnr: Bond is the same thing as debt meaning that you have to pay it back with interest. In other words, it looks like Nigeria is trying to spend its way out of a recesion which I doubt is going to work. We are doing almost the same thing the Americans did in the 30's and what several other countries did after that, the thing is it didn't work and Nigerians are about to find it out the hard way. Just ask the Japanese. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 9:58pm On Feb 09, 2017 |
Boss13: and the interest rates are going to be a killer though. The riskier the bond, the higher the interest rate that's what makes it worthwhile for investors. 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by rusher14: 10:41pm On Feb 09, 2017 |
awa:For a bond to be oversubscribed means there's investor confidence of the system. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by Juciano1(m): 10:52pm On Feb 09, 2017 |
PassingShot:Please don't mislead. Bonds are borrowing instruments. FG is essentially borrowing from external investors. 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 12:19am On Feb 10, 2017 |
Tarzaa: Wait what?? the govt is borrowing money that they are going to have to pay significant interest on and you are jubilating? |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 12:19am On Feb 10, 2017 |
Juciano1: No mind them o. There is so much misinformation here. 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 12:21am On Feb 10, 2017 |
Jacobx007: You didn't have to be disrespectful. You could have just offered him an explanation or simply ignore him instead of insulting the guy. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 12:21am On Feb 10, 2017 |
josh123: they borrowed money. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 12:23am On Feb 10, 2017 |
ephi123: hahahahaha, tell them jare. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 12:27am On Feb 10, 2017 |
ephi123: I am guessing govt spending is what is keeping inflation at a high rate in Nigeria. Can you confirm this? |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 12:28am On Feb 10, 2017 |
teflondoncuzo: them dey borrow money which them must pay back with interest. End of story. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by Truth234(m): 2:34am On Feb 10, 2017 |
PassingShot: Oga, it is borrowing and the difference between bond sales and conventional borrowing is actually our disadvantage. For instance, the government is issuing this bond at a premium high (interest rate) to attract investors. While in conventional borrowing interest are way lower (foreign institution) and costs of servicing debt are cheaper but when there is no foreign institution that wants to borrow us due to the current headwings in the country and the downgrading by credit ratings in recent time. The government result to borrowing (bond sale) at a very 'High Cost'. Don't forget this is money we really do not have. Let me ask you, why are investors rushing the bond giving the level of risk exposure and uncertainty? |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by Blue3k(m): 2:59am On Feb 10, 2017 |
Did you guys read the article. This going to get crazy soon. It's a Eurobond meaning it demoniated in foreign currency. That means when interest rates go up Nigeria going to struggle paying it back. The bonds are at an interest of over 7%. This is going to be risky if Nigeria doesn't have policies to boast economic growth to support this borrowing. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by davidif: 4:34am On Feb 10, 2017 |
Truth234: No mind dem jare. The ignorance here hurts. 1 Like |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by seguntijan(m): 6:33am On Feb 10, 2017 |
Nigeria was using in excess of N500b in 2012 & N700b in 2013 to 'defend' the Naira against the dollar when there's oil boom. Now we have little or no oil to sell due to vandalism. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by Ximenez(m): 9:02am On Feb 10, 2017 |
Ronaldinnioh:My old friend. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by ephi123(f): 9:53am On Feb 10, 2017 |
davidif: don't mind them |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by ephi123(f): 9:55am On Feb 10, 2017 |
davidif: To be honest, I am not always sure if indices that apply in other countries work the same way in Nigeria, our case always seems different. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by DaCharis2016: 9:59am On Feb 10, 2017 |
What does this mean to an average nigerian sef? |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by subsurface: 10:23am On Feb 10, 2017 |
datola: its now i knw u dont understand bond; international finance & debt. how many countries in the world (that a a vision to grow in the future) will u get a bond as high as 5%? also note that this is dollar currency bond; not naira that cbn can print (& then devalue the naira) incase nigeria couldnt repay back!!! the country is sinking more & more into debt; T.bills now is abt 18%... who will pay for all these debts/loans in future... i am sorry for those that are putting their hopes in oil & gas; because the prices may likely crash again cos the shale producers in the US that crashed it at first have all resumed production... so tell me where the money will come from?? this is wat u get when u take an accountant and make her an economist. |
Re: Nigeria’s $1 Billion Eurobond Oversubscribed By 7 Folds by teflondoncuzo(m): 11:57am On Feb 10, 2017 |
vodutive:. You that is wise why can't u just explain it or keep ur fingers to yourself n don't start typing trash 1 Like |
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