Deals of the year 2007: Nigeria clears the decks

Nigeria completed the clearing of its international private debt in March, leaving the way clear for new debt issuance on favourable terms across Africa.

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Name of issuer: Republic of Nigeria
Size of tender: offer to purchase up to $1.7 billion of oil warrants
When issued: March 2007
Lead manager/adviser: Citi

Technically, the resolution of Nigeria’s London Club debt, advised by Citi, started at the end of 2006, although it was completed in 2007.