The Debt Management Office (DMO) has listed Federal Government of Nigeria (FGN) 2021 $4 billion Eurobonds on the FMDQ Group Securities Exchange in furtherance of its efforts to build investor confidence and also secure investments in the securities market.
The DMO on its website stated that the Eurobond was listed in three tranches of seven years – 1.25 billion dollars, due in September and 2028 at 6.1 per cent; 12 years – 1.50 billion dollars, due in September 2033 at 7.3 per cent. The third one is 30 years – 1.25 billion dollars due in September 2051 at 8.2 per cent.
It stated: “The Eurobond, which was issued in September 2021, was oversubscribed to the tune of 12.2 billion dollars, and was described as one of Africa’s most successful financial trades of 2021.
“Currently, the three-tranche listing of the Eurobonds on the FMDQ Securities Exchange Limited has provided a diversified pool of financial offerings for investors,” the DMO added
Commenting on the debt instrument’s listing on the FMDQ Group Securities Exchange, Director-General of the DMO, Ms Patience Oniha, said that the listings would increase the number and range of securities available in the domestic capital markets, thereby deepening the market and promoting financial inclusion.
Oniha further explained that the listing would give more visibility to the domestic debt capital markets, which will be beneficial for attracting capital from local and foreign investors.
It would be recalled that FMDQ Securities Exchange Plc, which operates an Investor Protection Fund (IPF) for the purpose of compensating investors who suffer losses from insolvency, bankruptcy or negligence of its dealing members, was registered in 2012 with the mandate to organise and deepen the Nigerian financial markets.
The DMO pioneered listing of its Eurobonds on FMDQ platform in 2017.
