DMO to list $1.25 billion Eurobond on NGX, NMDQ

The Debt Management Office (DMO) has announced plans to list the 8.375%, $1.25 billion, March 2029 Eurobond on the Nigerian Exchange Limited and FMDQ Securities Exchange Limited.

This disclosure is contained in a statement issued by the DMO on Thursday and can be seen on its website.

The DMO stated that the Eurobond was issued in March, based on approvals in the 2022 appropriation act and further approvals by the National Assembly and the Federal Executive Council (FEC).

The agency said the Eurobond had earlier been listed on the London Stock Exchange. It said that listing of the Eurobond on the NGX and FMDQ was an indication that DMO was committed to boosting the domestic capital market activities and creating opportunities for local players.

What the DMO statement is saying
The DMO stated, “The DMO will today Thursday, list 8.375%, 1.25 billion dollars, March 2019 Eurobond on the NGX and FMDQ.

“The Eurobond was issued in March based on approvals in the 2022 appropriation Act and subsequent approvals received from the National Assembly and FEC.

“Its proceeds were used for financing capital projects in the Appropriation Act. In addition, the proceeds contributed to an increase in external reserves.