The federal government has announced that its dollar-denominated domestic bond will be issued on Monday, according to Gbadebo Adenrele, Managing Director of Investment Banking at United Capital Group.
Adenrele made this statement during a hybrid roadshow with investors organized by the Debt Management Office (DMO) on Thursday.
The bond, which aims to raise $500 million from local and foreign investors, will offer periodical repayments at maturity in dollars and full repayment of the principal amount at the end of a five-year term. It will be listed on the Nigerian Stock Exchange.
Adenrele stated, “The auction will open next week on Monday… The principal will be repaid after five years, with interest payments made every six months.”
Confirming the announcement, Finance Minister Wale Edun said, “We are imminently about to launch… We are eagerly looking forward to not just the funds but the experience of Nigerians taking leadership in this all-important area.”
Patience Oniha, Director-General of the DMO, added that the settlement date for the domestic dollar bond auction will likely be 10 days after the auction date.
