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BNY Mellon, Standard Bank to Offer Access to Nigerian Naira Debt - BLOOMBERG
Bank of New York Mellon Corp. will sell global depositary notes backed by local-currency Nigerian sovereign debt, offering investors access to the high yields offered by Africa’s most populous economy.
The notes sold along with Standard Bank Group Ltd. will be eligible for settlement through Euroclear and Clearstream, the oldest US bank said in a statement on Wednesday. Nigeria on June 4 sold 182-day bills to yield 18.5>#p### and its benchmark bond due 2033 was quoted on Wednesday at a yield of 19.33%.
