DMO Lists $4 Billion Eurobond on FMDQ Exchange
Patience Oniha, Director-General, Debt Management Office

DMO Lists $4 Billion Eurobond on FMDQ Exchange

Debt Management Office (DMO) says it has listed its 2021, 4 billion dollars Federal Government of Nigeria (FGN) Eurobond issued last year on the FMDQ Group Securities Exchange.

This is in a bid to strengthen investors’ confidence and also secure their investments while allowing buying and selling of the debt instrument on the locally organised exchange,

Nigeria’s Debt agency said 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.

“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 stated. The DMO pioneered the listing of its Eurobonds on the FMDQ platform in 2017.

Ms Patience Oniha, the Director-General of the DMO, had 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.

She added that it would give more visibility to the domestic debt capital markets, which will be beneficial for attracting capital from local and foreign investors. #DMO Lists $4 Billion Eurobond on FMDQ Exchange

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