The federal government has listed 6.125 per cent $1.25 billion September 2028, 7.375 per cent $1.50 billion September 2033 and 8.250 per cent $1.25 billion September 2051 Eurobonds under its Global Medium-Term Note Programme on its platform.
The listing of these foreign currency-denominated debt securities is another commendable feat for the Federal Government of Nigeria (FGN) through the Debt Management Office (DMO), Nigeria. It demonstrated the government’s unrelenting commitment to supporting the development of the nation’s debt capital markets (DCM) towards sustainable economic development.
These issuances represent the FGN’s seventh seventh issuances, following the issuances in 2011, 2013, 2017 and 2019.
The admission of these Eurobonds, co-sponsored by Chapel Hill Denham Advisory Limited and FSDH Merchant Bank Limited, both Registration Members (Listings) of the Exchange, is reflective of the potential of the Nigerian DCM and the commendable level of confidence demonstrated by both issuer and investors, and validates the efficient processes and integrated systems through which FMDQ Group plc has sustained its service delivery to the market and its diverse stakeholders.
Speaking on the successful issuance of the Eurobonds, the Director-General, Debt Management Office, Nigeria, Ms. Patience Oniha, said “this issuance was one of the largest financial trades in Africa in 2021 and also aligns the objectives of the Nigeria’s Debt Management Strategy (2020-2023). Investors’ keen interest in the issuance as shown by the Order Book of over $12.00 billion demonstrated confidence in Nigeria’s economy, with bids being received from international investors across Europe, America and Asia as well as robust participation from domestic investors.
