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Nigeria’s Dollar Bonds to Yield More Than Ghana’s, JPMorgan Says

Nigeria $500 million debut international bond, to be sold this week, will probably yield more than Ghana’s dollar debt because of political risks and fiscal deterioration, JPMorgan Chase & Co. analysts said.

Africa’s most populous nation and biggest oil producer will probably pay a yield ranging from 6.90 percent and 7.70 percent on its 10-year bonds, compared with 6.2 percent on Ghana’s $750 million of debt due 2017, analysts including Johannesburg-based Giulia Pellegrini wrote in an e-mailed note dated Jan. 18.