Borrowing through eurobonds — debt issued overseas, mostly in dollars, euros and yen — reached a new quarterly peak in the three months to March, according to data from Dealogic and Moody’s Investors Service
The sale is part of government plans to borrow USD 5 billion from abroad for capital infrastructure projects to boost Africa's largest economy.
Eurobonds may be hailed by some as a potential solution to the Greek debt crisis, but likely would be met by skepticism in the open market.
Expectations were running high ahead of the Merkel-Sarkozy meet last night, but the outcome sure has disappointed the Street.