BNY Mellon, Standard Bank to Offer Access to Nigerian Naira Debt

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% and its benchmark bond due 2033 was quoted on Wednesday at a yield of 19.33%.

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Investors looking for high yields have plenty of options in the midstream sector. It isn't a good idea to focus only on yield when looking at midstream stocks. The business that backs the yield is often more important than the yield. 10 stocks we like better than Enterprise Products Partners › Investors looking for high yields would be remiss if they didn't dig into the midstream energy sector. But don't just buy any midstream business, because there are risky high-yield investments here, and some businesses have less-than-impressive histories. Here are some examples of businesses to be leery of, and one high-yield midstream business worth buying and holding forever. When you look at high-yield investments, you have to make sure you understand why the yields are so high. In the midstream space, yields are high across the board because the sector is largely focused on producing income for shareholders. So, generally speaking, midstream stocks usually have attractive yields. But not all high yields are created equally. For example, USA Compression Partners (NYSE: USAC) has a lofty 8.3% yield. But the business is run with more leverage than many other businesses in the sector. To put a number on that, the debt-to-earnings before interest, taxes, depreciation, and amortization (EBITDA) ratio is around 4.4x today. That's above the 3.7x of Energy Transfer (NYSE: ET), the business that is USA Compression Partners' general partner and, thus, runs it, and well above the 3.2x of Enterprise Products Partners (NYSE: EPD), one of the most conservative players in the midstream sector. What's interesting here is that Energy Transfer has a 7.3% yield, which is pretty attractive, too. But Energy Transfer cut its dividend in 2020 during the coronavirus pandemic. That was likely a time when most income investors would have preferred a little dividend consistency. Once again, there are problems with the income story that shouldn't be ignored. This brings things back to Enterprise, which has the lowest yield of the three at 6.8%. If you have $10,000 to put to work, do you want to invest in a highly leveraged business or one that cut its distribution when faced with adversity? You'll probably want to entrust your hard-earned savings to a business that has been a little more reliable. Note that Enterprise has long been conservatively operated and had an industry-leading debt-to-EBITDA ratio. Income investors are usually risk-averse, so buying Enterprise will keep you in your comfort zone on that score. But there's more to the story. Enterprise has increased its distribution every year for 26 consecutive years. That streak includes increases during the pandemic, the Great Recession, and the dot-com crash. Being a reliable income investment is clearly something Enterprise prioritizes. The distribution, meanwhile, is backed by an investment-grade-rated balance sheet. And Enterprise's distributable cash flow covers its distribution by a very strong 1.7x. There is a lot of leeway here before Enterprise would be at risk of a distribution cut. Given the $7.6 billion in capital investment projects underway, it seems far more likely that the slow and steady distribution increases will continue. Last but not least, insiders own nearly a third of Enterprise Products Partners' units. So management is fairly well aligned with unit holders, which is backed up by the business being financially conservative and providing a steady, and growing, income stream. If you are going to put your savings to work in an income investment, Enterprise is a very strong candidate, and one you can buy today and hold for the long term. To be fair, like most midstream businesses, Enterprise's yield is going to make up the lion's share of return here. But if you are an income investor, that probably won't bother you. And given all the positives, a $10,000 investment in this reliable and financially strong income producer seems like a pretty attractive long-term proposition for investors who like to buy and hold. Before you buy stock in Enterprise Products Partners, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Enterprise Products Partners wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy. 1 High-Yield Midstream Stock to Buy With $10,000 and Hold Forever was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data