DMO Lists $300m Diaspora Bonds and $3bn Eurobonds on NSE


The Debt Management Office (DMO) on Thursday, December 21, 2017, listed on The Nigerian Stock Exchange (NSE), the $300 million Diaspora Bond issued in June and the $3 billion Eurobonds issued in November at the International Capital Market (ICM).

Both offers were issued with significant features, with the $300 million Diaspora Bond unveiled with five- year tenor and 5.625 percent coupon. The Eurobonds issuances came in two tranches of $1.5 billion 10-year offer with 6.50 percent coupon and another $1.5 billion 30-year offer priced at 7.625 percent coupon.

Speaking at the listing ceremony at the NSE, the Director-General, Debt Management Office (DMO), Ms. Patience Oniha, noted that DMO is committed to meeting the needs of its diverse group of investors as well as supporting the development of the domestic capital market. “The listing of the $300 million Diaspora Bond and $3 billion will help increase the number and range of securities available in the domestic capital market.

It would deepen the market and promote financial inclusion, as investors now have the opportunity to buy or sell the instruments on the secondary market through their stockbrokers”.

She added that “the listing of the Diaspora Bond and the Eurobonds are examples of the various ways in which DMO exercises its borrowing powers on behalf of the Federal Government of Nigeria to support the development of the domestic capital market in particular”.