BOI’s Maiden Development Bond oversubscribed in 5 working days
Confidence in the Bank of Industry Limited (BOI) and the ability of Nigeria’s domestic capital market to finance long-term economic development received a significant boost as BOI’s maiden ₦250 billion Series 1 Fixed Rate Bond closed oversubscribed. The post BOI’s Maiden Development Bond oversubscribed in 5 working days appeared first on Nairametrics .
The Bank of Industry Limited (BOI) successfully issued a ₦250 billion Series 1 Fixed Rate Bond in just five working days, indicating strong confidence in Nigeria's domestic capital market and BOI's ability to finance long-term economic development. The transaction was facilitated through BOI Financing SPV Plc under the Bank's US$1 billion Multi-Currency Instruments Programme and attracted participation from a diverse pool of institutional investors, including pension fund administrators, banks, development finance institutions, corporates and other institutional investors.
BOI's Managing Director/Chief Executive Officer, Dr. Olasupo Olusi, praised the strong investor response, attributing it to President Bola Ahmed Tinubu's executive approval for incentives and support. The transaction marks a significant shift in BOI's funding strategy, as it provides another avenue for mobilizing long-term capital from Nigerian institutional investors.
The proceeds from the issuance will enhance BOI's capacity to finance eligible enterprises across priority sectors, supporting industrial expansion, job creation, stronger domestic value chains, and a more competitive economy.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
