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 has played a pivotal role as Joint Lead Issuing House in the Bank of Industry's (BOI) N250 billion Series 1 Fixed Rate Bond Issuance, solidifying its standing within Nigeria's capital markets. The five-year bond, offered from August 5 to August 11, 2026, received overwhelming interest from institutional investors, underscoring the transaction's success.
The bond was part of BOI Financing SPV PLC's US$1 billion Multi-Currency Instruments Programme and attracted participation from eligible investors. Both AAA ratings from Agusto & Co. and Intelligence Africa attest to its quality. As the Joint Lead Issuing House, Quest Merchant Bank delivered capital markets guidance and transaction execution services, alongside its relationships with institutional investors, to facilitate the mobilization of long-term funding.
The transaction is anticipated to bolster the availability of long-term naira capital for productive economic activities, especially through BOI's financing efforts. Afolabi Olorode, Managing Director/CEO of Quest Merchant Bank, highlighted the transaction's significance, stating that it bridges institutional investors with the real economy and fosters growth for Nigerian businesses.
He praised the bank for its commitment to delivering value for issuers and investors while contributing to economic development.
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