Politics
Nigeria Draws First Tranche of $5 Billion Swap With UAE Bank
Key Points
Nigeria Draws First Tranche of $5 Billion Swap With UAE Bank Nigeria has accessed the first tranche of a $5 billion derivatives deal with United Arab Emirates’ largest lender, pressing ahead with a transaction that has been scrutinized for being opaque. The West African nation drew about $1.5 billion in the last couple of weeks from a total return swap transaction with First Abu Dhabi Bank PJSC, according to people familiar with the transaction, who asked not to be identified because they...
Nigeria Draws First Tranche of $5 Billion Swap With UAE Bank
Nigeria has accessed the first tranche of a $5 billion derivatives deal with United Arab Emirates’ largest lender, pressing ahead with a transaction that has been scrutinized for being opaque.
The West African nation drew about $1.5 billion in the last couple of weeks from a total return swap transaction with First Abu Dhabi Bank PJSC, according to people familiar with the transaction, who asked not to be identified because they aren’t authorized to speak to the media.
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