UPDATE 2-Nigeria sees demand for eurobond, plans Oct-Nov issue

Fri Sep 3, 2010 11:32am GMT

[-] Text [+]

* Finance minister sees strong demand for planned Eurobond

* Elections, fiscal indiscipline may make some wary

* Targeting Oct or Nov for issue

(Adds analyst comment)

By Carolyn Cohn

LONDON, Sept 3 (Reuters) - Nigerian Finance Minister Olusegun Aganga said on Friday he saw strong appetite for a planned $500 million debut global bond and bookrunners were being appointed with the aim of an October or November issue.

The 10-year bond is aimed at helping fund a widening budget deficit in sub-Saharan Africa's second-biggest economy and at setting a benchmark for Nigeria in the international capital markets for both corporate and government debt.

"I met some investors last month who said you should do $1 billion. There is appetite," Aganga told a conference in London. Continued...

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