THUR SEPT 03 2026-theGBJournal| The Bank of Industry has closed its N274.1868 billion Series 1 Development Bond transaction with the formal signing of the transaction documents, completing the landmark 17.60% five-year fixed-rate bond due 2031.
The transaction follows the approval of the bond and marks a significant milestone for BOI, as it becomes the largest non-Government bond issuance in Nigeria and the largest debt issuance by a Development Finance Institution.
Chapel Hill Denham acted as Lead Issuing House/Bookrunner on the transaction, which the investment bank said attracted a strong response from investors and underscored the depth of Nigeria’s domestic debt capital market.
More than a financing transaction, the bond represents a strategic step towards deepening Nigeria’s domestic capital market and mobilising long-term Naira capital to support businesses, expand productive capacity, create jobs and strengthen local value chains.
“It is also a strong vote of confidence in BOI’s mandate and its role in driving Nigeria’s industrial and economic transformation,” BOI said.
Chapel Hill Denham said it is proud to have acted as Lead Issuing House/Bookrunner to Bank of Industry (BOI) on its successfully priced debut N274.18 Billion 5-year Fixed Rate Bond due 2031 — the largest non-Government bond issuance in Nigeria and the largest debt issuance by a Development Finance Institution.
“The strong response to the offer reinforces the depth of Nigeria’s domestic debt capital market and its capacity to mobilise long-term capital for productive investment,” Chapel Hill Denham said.
“We are grateful to BOI for entrusting us with this important mandate and proud to continue supporting transactions that finance Nigeria’s growth and development.”
With the transaction documents now signed, BOI said its focus remains clear: “mobilise more capital, reach more businesses and create greater development impact.”
X-@theGBJournal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
