August 25, 2015/Reuters

Nigeria’s Guarant Trust Bank (GT Bank) will redeem its existing Eurobond at maturity and consider issuing a fresh one, its chief executive said on Tuesday.

“We probably will redeem everything, but we might raise fresh bond … subject to pricing, prevailing environment,” Segun Agbaje told an investor conference call.

Agbaje said he expected Nigeria to devalue its currency again by another 10 percent owing to the persistent decline in crude oil prices which have spooked foreign investors and prompted them to exit naira-denominated assets.