NSE Admits FGN $300M Diaspora Bond, $3B Eurobonds

The Nigerian Stock Exchange’s daily official list swelled yesterday with the listing of the FGN 30 year $1.5 billion Euro Bond, FGN 10-year $1.5 billion Euro Bond and FGN 5-Year $300 million Diaspora Bond on its platform.

Also, the Debt Management Office (DMO) assured that the Federal Government, will continue to implement prudent fiscal and debt management strategy to reduce the cost of the nation’s debt profile, rebalancing its local and international debt portfolio to a 60:40 split going forward.

At the listing of the Bonds, yesterday in Lagos, the Director-General of the Debt Management Offices (DMO), Ms. Patience Oniha, said that the Federal Government is listing some of the securities that were issued in the international capital market this year.According to her, government recognised the role of the Nigeria capital market in developing the economy.

Oniha noted that the government has accessed the international capital markets four times in 2017 amid uncertainties surrounding the nation’s economy. She however stated that the bonds received high level of investors’ patronage as the issues were oversubscribed.

The Chief Executive Officer of NSE, Oscar Onyema explained that the federal government is the largest issuer of bonds on the Exchange in the fixed income space, noting that the NSE has worked with the DMO and Federal Government to introduce other types of Bonds.

 

Source: Guardian