News
World Bank sells $510 million loan obligation to attract investors
The World Bank Group on Friday confirmed the completion of its inaugural securitization transaction as part of a policy to attract institutional private capital into emerging markets.
The institution, through its affiliate, the International Finance Corporation, sold a $510 million collateralized loan obligation backed by loans it gave companies across the developing world.
The transaction includes a $320 million senior tranche sold to private investors, a $130 million mezzanine tranche insured by a consortium of credit insurers, and a $60 million equity tranche.
The shift from an “originate-to-hold” model to an “originate-and-distribute” model allows the World Bank to recycle its capital, expand its lending capacity, and support more countries and projects.
The CLO sale comes two years after an advisory group was commissioned in June 2023 to identify barriers to private sector investment in emerging markets and provide solutions.
The World Bank noted that repackaging of IFC loans into rated securities creates a new asset class for developing nations that meet institutional investment standards.
The securities can be sold to investors like asset managers, pension funds, and insurance companies that are willing to substantially raise their stakes in emerging markets.
“This is step one in an originate-to-distribute strategy that holds significant potential to attract private capital at scale,” said World Bank Group President Ajay Banga.
Banga conveyed his optimism that private investment mobilization would create jobs, help people climb out of poverty, and change families’ trajectory for generations.
News
Man in shock after lady he lodged with in a hotel in Abuja flees with his car and other valuables
A Nigerian man is currently in shock after a young lady identified as Precious Chinyere , whom he took to a hotel in the Asokoro area in the FCT for a romantic getaway allegedly fled with his car and other personal belongings on Thursday, February 5,
The distraught man and Precious had visited the hotel and opted for a short time stay. Things took a different in the evening when the man noticed Precious had left the hotel room without notifying him and took along with her some of his personal belongings including phones and laptop and also his car.
The victim immediately reported the incident to the police.
When contacted, the spokesperson of the FCT police command, SP Josephine Adeh, told LIB that the matter is currently being investigated and that efforts are being made to apprehend the suspect.
The United States Mission in Nigeria has condemned the k!lling of more than 200 civilians in recent attacks on communities in Kwara State.
Recall that terrorists launched de@dly attacks on Woro and Nuku communities in Kaiama Local Government Area of the state on Tuesday night, k!lling unsuspecting citizens.
It was gathered that the gunmen invaded the villages, opened fire on residents and burned homes.
According to reports, the de@th toll from the unfortunate incident hit 200 on Thursday night.
Reacting, the US Mission Nigeria condemned the k!lling via a post on its official X handle.
The post reads, “The United States condemns the horrific attack in Kwara state in Nigeria, which claimed the lives of more than 160 people, with the de@th toll still unconfirmed and many still unaccounted for.
“We express our deepest condolences to the families of those affected by this senseless violence.
“We welcome President Tinubu’s order to deploy security forces to protect villages in the area and his directive to federal and state officials to provide aid to the community and bring the perpetrators of this atrocity to justice.”
News
“I’ll never settle for a barber, yahoo boy or a poor man” — nail tech’s list of men she says she can’t marry sparks reactions online
A Nigerian nail technician has set social media talking after openly listing the kind of men she says she can never settle for.
In a now-viral post, she stated clearly that she refuses to “settle for less” and went on to mention professions and traits she considers a no-go area.
According to her, she can never settle for a barber, an aza man, a yahoo boy, a mechanic, an actor, a laundry man, a hype man, or a plumber. She also added that she wouldn’t marry a man with a high body count or a poor man.
Police bust syndicate behind nude photo blackmail in Lagos
Man in shock after lady he lodged with in a hotel in Abuja flees with his car and other valuables
US Reacts As De@th Toll In Kwara Terror Attacks Hits 200
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