FCMB Capital Markets Limited acted as a Joint Issuing House and Bookrunner for the Bank of Industry’s (BOI) ₦274.19 billion Series 1 Development Bond, a five‑year, 17.60 % fixed‑rate security due in 2031. The bond was issued through BOI Financing SPV Plc under the bank’s US$1 billion Multi‑Currency Instruments Programme.
The issuance was originally sized at ₦250 billion but was oversubscribed by institutional investors. BOI exercised its green‑shoe option to meet the excess demand, raising the final amount to ₦274.19 billion.
FCMB Capital Markets advised on the transaction’s distribution strategy, book‑building and investor engagement.
“This transaction highlights the depth of Nigeria’s domestic debt capital market and its capacity to mobilise funding for development on a large scale,” said Ikechukwu Omeruah, Managing Director of FCMB Capital Markets. “By assisting the Bank of Industry to access a broad pool of institutional investors, we contributed to a transaction that strengthens its capacity to finance businesses and projects across priority sectors.”
Participating investors included pension fund administrators, banks, development finance institutions, corporates and other institutional investors. The financing is expected to support productive capacity, job creation, local value addition and economic diversification in Nigeria.
FCMB Capital Markets Limited is the investment‑banking subsidiary of FCMB Group Plc and is registered with the Securities and Exchange Commission as an issuing house and financial adviser. The firm provides debt and equity capital raising, financial advisory, project and structured finance, mergers and acquisitions, and restructuring services.
<small>Source: Daily Post Nigeria — read the original story there.</small>
