WHEN NIGERIA COMES to the market this month with a $500 million sovereign bond, investors will scramble to get in on the deal. The 10-year bond will be heavily oversubscribed as African credit moves from the fringe of the emerging market universe to dead centre.
Africa is flavour of the year. Fear of defaulting and unstable African states has been replaced by a clamour for credits that are seen as the most dynamic part of the frontier market.
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