Nigeria Capital Markets update - October 2019
Welcome to PwC's Nigeria Capital Markets Update October 2019. This is a snapshot of the equity and debt capital markets in Nigeria and includes our thoughts and insight on what we're seeing in the market. We hope you find the information helpful in staying up to date on new issuance activity.
There has been a slowdown in the Nigerian economy with continued decline in the country's Corporate Eurobond activity. There has also been an increase in investors’ appetite for green bonds following the introduction of the green bond framework in the Nigerian capital market, and the issuance of the first sovereign green bond in Africa, by Nigeria in 2017.
Activity in the short-term debt market has witnessed significant year-on-year growth over the last five years, as large corporates continue to access the commercial paper (CP) market for funding. Primary market activity opened on a positive note with the Nigerian Stock Exchange (NSE) recording its first initial public offering (IPO) in four years
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