WED 03 NOV, 2021-theGBJournal- Nigeria’s Debt Management Office (DMO) has signified intention to issue N200-N250 billion worth of Sovereign SUKUK this year, on behalf of the Federal Government, to finance critical road projects across the country.
‘’In light of three successful tranches of SUKUK issued in previous years, the issuance of another tranche of SUKUK this year will further bridge infrastructure gaps in the country, notably through the financing of vital road projects across the country,’’ DMO said in a statement seen by theGBJournal today.
DMO said transaction parties has already been appointed ‘’through the open competitive bidding process’’ for the issuance of the Sukuk, which will be the fourth Sovereign Sukuk.
Stanbic IBTC Capital Limited, Greenwich Merchant Bank Limited and Vetiva Capital Management Limited won the bid as issuing houses. Buraq Capital Limited is named as the Financial Advisor while FBNQuest Trustees Limited and APEL Capital and Trust Limited emerged as Trustees and Abdulai, Taiwo & Co Solicitors and Tsedaqua Attorneys won the bid as Legal Advisors to the transaction.
The DMO said they expect a high subscription level for the Sukuk when the offer opens.
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