The Debt Management Office (DMO) on Monday officially listed the Federal Government of Nigeria’s (FGN) Series II N15 billion Green Bond on the Nigerian Stock Exchange (NSE).
The NSE, while announcing the listing, stated that the 7-year Green bond issued at coupon rate of 14.50% on June 13, 2019 would mature on June 13, 2026.
Specifically, the Series II Green Bond issued to finance renewable energy, afforestation, and transportation projects, were coming after the maiden N10.69Bn Sovereign Green Bond that was issued in December 2017 and listed on the NSE in July 2018.
Commenting on the listing, the Head, Trading Business Division of the NSE, Mr. Jude Chiemeka, said: “We are pleased to admit the Series II FGN Green Bond to our Green and Sustainable Bond Market. Our collaboration with the Ministry of Environment (MOE) and the DMO on deepening the Green Bond market, which dates back to 2016, reinforces the Exchange’s commitment to position Nigeria as a financial center for green and sustainable financing.
“The recent partnership with the Luxembourg Stock Exchange (LuxSE) further demonstrates NSE’s passion to provide enabling environment for issuers and investors in the Nigerian capital market. The Exchange will continue to work with key stakeholders in transitioning to a low-carbon and sustainable economy as well as develop innovative products and services in close collaboration with the market”, the investment expert added.
Chiemeka commended the Minister of Environment, Dr. Mohammad Mahmoud, and the management of the DMO on the successful issuance of a second Green Bond; describing it as a laudable move in addressing the nation’s environmental challenges and fostering sustainable financing.
Nigeria’s participation in the Green bond market is in line with the Federal Government’s commitment to achieving its Nationally Determined Contributions (NDC) under the Paris Agreement on Climate Change signed in September 2016.
