Barclays adds Nigerian sovereign bonds to emerging-Market Index




Nigerian sovereign bonds were added to a $1.7 trillion local-currency emerging-market index by Barclays Plc.

Ten Nigerian bonds were included in the index on April 1, Jodie Gray, a London-based spokeswoman for Barclays, said yesterday.

The debt has a weighting of 0.97 per cent at close, Gray said. Ten Romanian bonds were also included in the gauge.

Barclays said in November it would add the two nations’ debt to the index after reviewing changes in marketplace and polling investors on governance and market accessibility.

Eligibility criteria include having a minimum market size equivalent of $5 billion, while each bond must have at least $300 million outstanding and a minimum 12 months to maturity.

 







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