Quest Merchant Bank joint leads BOI’s N250bn bond issuance
Quest Merchant Bank Limited has acted as Joint Lead Issuing House for BOI Financing SPV PLC’s N250 billion Series 1 Fixed Rate Bond Issuance, strengthening its position in Nigeria’s capital markets. The five-year bond offer, which ran from August 5 to August 11, 2026, was oversubscribed, indicating strong demand from institutional investors and confidence in […]
Quest Merchant Bank Limited has been appointed as the Joint Lead Issuing House for Bank of Industry (BOI) Financing SPV PLC's N250 billion Series 1 Fixed Rate Bond Issuance. The bond, with a maturity of five years, ran from August 5 to August 11, 2026, and was oversubscribed, indicating strong demand from institutional investors.
The bond was issued under BOI Financing SPV PLC's US$1 billion Multi-Currency Instruments Programme and received AAA ratings from Agusto & Co. and Intelligence Africa. As the Joint Lead Issuing House, Quest Merchant Bank provided capital markets advisory and transaction execution services, alongside its institutional investor relationships, to support the mobilisation of the long-term funding.
The transaction is expected to contribute to the availability of long-term naira capital for productive economic activities, particularly through the financing activities of the BOI. Afolabi Olorode, Managing Director/CEO of Quest Merchant Bank, highlighted the issuance's significance in connecting institutional investors with the real economy and enabling Nigerian businesses to grow, invest, and compete.
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