BOI’s maiden N250 billion bond oversubscribed amid strong investor demand
The Bank of Industry (BOI) has recorded a successful debut in Nigeria’s domestic debt capital market, with its inaugural N250 billion Series 1 Fixed Rate Bond attracting subscriptions above the amount offered. The post BOI’s maiden N250 billion bond oversubscribed amid strong investor demand appeared first on Nairametrics .
The Bank of Industry (BOI) successfully launched its maiden N250 billion bond on Nigeria's domestic debt capital market, receiving significant investor demand that exceeded the amount offered. The bond, issued through BOI Financing SPV Plc under the bank's $1 billion Multi-Currency Instruments Programme, attracted subscriptions from various institutional investors, including pension fund administrators, commercial banks, development finance institutions, corporates, and others.
The proceeds will be used to expand BOI's long-term financing capacity for businesses in priority sectors, fostering industrial growth, job creation, local value addition, and economic diversification. BOI Managing Director and CEO, Dr. Olasupo Olusi, highlighted the oversubscription as evidence of the domestic market's capacity to support large-scale development financing and credited policy support from President Bola Ahmed Tinubu for the strong investor turnout.
Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
