FRI AUG 30 2024-theGBJournal| The maiden Series 1 Domestic FGN US Dollar Bond offer launched by the Federal Government earlier this month closes today with insiders saying they have seen fantastic response from investors.
The FGN US Dollar Bond offer, Series 1 USD500 million, was launched Thursday, August 15, 2024 by the Finance Minister, Wale Edun, and billed as a historic initiative aimed at raising a minimum US$500 million from both local and international investors.
The Coupon was priced at 9.75%, to be paid semi-annually.
The Federal government said the net proceeds of the bonds and its accretions shall be ring-fenced and invested in critical sectors of the economy to be approved by the President on the recommendation of the Minister of Finance and Coordinating Minister of the Economy, subject to appropriation by the National Assembly.
United Capital played the Lead Issuing House role alongside Meristem Capital Limited and Stanbic IBTC Capital Limited.
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