FG’s N10.8bn Green Bond Oversuscribed – DMO
The Debt Management Office (DMO) has announced that the debut Sovereign Green Bond offered to the general public in December, 2017, was very well received by a wide range of investors beyond expectation.
The DMO said in a statement that at the close of the Offer, the total subscription received was N10.791 billion compared to the N10.69 billion Offered.
Banks, pension funds, asset managers and retail investors are among the major investors who subscribed to the Green Bond.
The DMO had offered the N10.69 billion Sovereign Green Bond for a Tenor of 5 years and Coupon of 13.48 per cent.
“The DMO is pleased with the strong interest shown by Investors,” the debt office said, adding that the oversubscription shows investors interest in new products and support for the objective behind the issuance of Bond which is to invest in projects that will contribute to preserving the environment.
“It also shows support for the Paris Agreement on the Climate, which Nigeria has endorsed,” DMO’s director general, Ms. Patience Oniha said.
It will be recalled that the Green Bond which was rated ‘Excellent’ by Moody’s, was issued as part of the Federal Government’s New Domestic Borrowing under the 2017 Appropriation Act to finance three (3) Projects.
The Projects are Energising Education Programme, Renewable Energy Micro Utilities and Afforestation Programme.
The DMO expressed its commitment to providing products that meet the needs of investors for their portfolio preferences and to continue to promote financial inclusion.
Read More at: https://leadership.ng/2018/01/05/fgs-n10-8bn-green-bond-oversuscribed-dmo/
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