The federal government has said it generated more than $900 million from its first-ever domestic dollar-denominated bond issuance.
Speaking on the results of the issuance, minister of finance and coordinating minister of the economy,
Wale Edun, stated that the bond saw an over 180 percent subscription.
Recall that on August 20, the federal government offered its first $500 million FGN bond for subscription at $1,000 per unit to interested investors.
According to Edun, this shows the continued confidence of investors in Nigeria’s economic stability and growth prospects.
He stated that the proceeds from the bond would be directed to key sectors of the economy as approved by President Bola Tinubu.
He said the successful capital raise demonstrates the government’s dedication to expanding its funding sources and promoting economic growth.
“The issuance of this inaugural Domestic FGN US Dollar Bond demonstrates that investors, as well as Nigerians, continue to have faith in the country’s economy,” the minister said.
Patience Oniha, director-general (DG) of the Debt Management Office (DMO), also offered gratitude to all the parties involved in the transaction.
Africa Finance Corporation was the global coordinator, United Capital Plc acted as the lead issuing house and coordinator.
“We thank our legal partners, Olaniwun Ajayi LP and G. Elias, and financial advisers, Constant Capital Markets and Securities Limited and Iron Global Markets Limited, for their critical roles in structuring and executing the bond,” she said.
“This transaction was made possible through the expertise and guidance of our advisers. We also appreciate the continued support of the Nigerian public and our institutional partners who contributed to the successful completion of this historic issuance.”
