Nigeria plans to raise $300 mln via "diaspora bond" by June - bookrunner

Nigeria plans to raise $300 million by selling a diaspora bond targeting Nigerians living abroad, one of the book runners on the deal, First Bank told Reuters on Tuesday.
The bond, which will have a maturity of five to seven years, is expected to be issued by June, the bank said.
Nigeria has asked Goldman Sachs and Stanbic IBTC Bank, the local unit of South Africa's Standard Bank , to advise it on the sale of the maiden bond. It also appointed United Bank for Africa as one of the bookrunners on the deal.
Nigeria is the world's fifth-biggest destination for international remittances with 5 million Nigerians living abroad sending money back to relatives, according to Western Union.
© Reuters News