BOI
The Bank of Industry (BOI), through BOI Financing SPV Plc, has raised N250 billion through a five year fixed rate bond, providing additional long term funding for productive activities in the Nigerian economy.
The Series 1 bond, issued under the BOI Financing SPV Plc’s $1 billion Multi Currency Instruments Programme, was offered to investors between August 5 and 11, 2026.
The offer which was oversubscribed, indicated strong demand from institutional investors for the debt instrument having received AAA ratings from Agusto & Co. and Intelligence Africa and will be listed on the FMDQ Securities Exchange Limited.
Quest Merchant Bank Limited acted as one of the Joint Lead Issuing Houses for the transaction. Speaking on the transaction, the Managing Director and Chief Executive of Quest Merchant Bank, Afolabi Olorode, said the issuance would help connect institutional capital with businesses in the real economy.
He said, “This transaction goes beyond raising capital. It connects institutional investors with the real economy and creates a platform that enables Nigerian businesses to grow, invest and compete.
“We are particularly pleased to have served as a Joint Lead Issuing House for an issuance of this scale, because it demonstrates the capacity of Nigeria’s capital markets to mobilise long term funding for productive activity.”
Olorode said the transaction also showed the capacity of the domestic capital market to provide long term naira financing for economic activity.
The N250 billion issuance comes amid efforts by development finance institutions and other market participants to deepen access to long term financing for businesses and infrastructure.
