FCMB Capital Markets helps BOI raise ₦274.19bn via Nigeria’s largest sub‑sovereign bond
FCMB Capital Markets served as Joint Issuing House and Bookrunner on the Bank of Industry’s ₦274.19 billion Series 1 Development Bond, a five‑year, 17.60% fixed‑rate instrument due in 2031 issued through BOI Financing SPV Plc under the Bank’s US$1 billion Multi‑Currency Instruments Programme. The deal started at ₦250 billion but was upsized after strong demand from pension fund administrators, banks, development finance institutions, corporates and other institutional investors.
This transaction highlights the depth of Nigeria’s domestic debt capital market and its capacity to mobilise large‑scale funding for development. FCMB’s Managing Director Ikechukwu Omeruah noted the strong investor response reflects confidence in BOI and growing appetite for credible instruments that connect institutional capital with the nation’s economic priorities. The financing is expected to boost productive capacity, create jobs, add local value and support economic diversification.
If you are a business seeking long‑term finance, consider exploring BOI’s funding programmes; if you are an institutional investor, monitor similar bond offerings for portfolio diversification and to back national development. Keep an eye on BOI and FCMB announcements for future issuances.