The Debt Management Office, DMO, will on Thursday list a $300 million Diaspora Bond and $3 billion Eurobonds in the International Capital Market (ICM) on The Nigerian Stock Exchange (NSE) and the FMDQ OTC Securities Exchange.
The listing which will be carried out by top management staffs of the DMO, led by its Director General, Patience Oniha, is expected to take place by 10:30am at the FMDQ OTC Securities Exchange and later by 1pm at the Nigerian Stock Exchange, Lagos.
The Listing of the Diaspora Bond and the Eurobonds are examples of the various ways in which the DMO uses its borrowing activities on behalf of the Federal Government of Nigeria, to support the development of the domestic capital market
Recall that the Debt Office had in June issued a $300 million Diaspora Bond, with a 5-year and 5.625% coupon.
As part of its drive to creating opportunities for the private sector to access long term funds in the domestic and international capital market, the DMO had also in November issued $1.5 billion Eurobonds with a 10-year tenor and another 1.5 billion with a tenor of 30 years.
The listings according to the DMO will promote financial inclusion hence increase the number and range of securities available in the domestic capital market.
Also, it will give more visibility to the domestic debt capital market which will be beneficial for attracting capital from local and foreign investors.
The Debt Office also said the information on the Sovereign security such as Coupon, Yield and Tenor will serve as benchmarks for corporations who may issue Eurobonds in the ICM.
