- DMO Set to List Five FGN Eurobonds on NSE
The Debt Management Office will list five Federal Government of Nigeria Eurobonds on the Nigerian Stock Exchange on Friday (today).
The listing is in line with DMO’s strategy to diversify the funding base of the Federal Government and facilitate private sector participation in the capital market, according to the NSE.
The Eurobonds to be listed are the 7.143 per cent, 12-year, $1.25bn FGN Eurobond; the 7.696 per cent, 20-year, $1.25bn FGN Eurobond; the 7.625 per cent, seven-year, $1.118bn FGN Eurobond; the 8.747 per cent, 12-year, $1bn FGN Eurobond, and the 9.248 per cent, 30-year, $0.75bn FGN Eurobond.
According to NSE, the Eurobond issuances are expected to spur private sector participation in the Nigerian capital markets as domestic investors stood to gain increased access to instruments in the secondary markets and a widened opportunity for portfolio diversification.
“The listing of the Eurobonds will also facilitate the inflow of foreign investment from international fund managers seeking to diversify their portfolios from both asset class and geographical perspectives, augment the domestic savings base and is ultimately expected to lead to more sustainable growth and development of the economy,” it added.
