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DMO commemorates Eurobonds, Sukuk listing on NGX

The Debt Management Office (DMO) yesterday leveraged the Closing Gong ceremony of Nigerian Exchange Limited (NGX), to commemorate the listing of a Triple-Tranche $4 billion Eurobonds, $1.25billion Eurobonds and the N250 billion Sukuk on the Exchange.

The event featured the management of DMO led by its Director-General, Ms Patience Oniha, and other facilitators of the transactions.

In his remarks, CEO, NGX, Temi Popoola, assured stakeholders of the Exchange’s capacity to be a veritable platform for listing and trading instruments.

Speaking on the renewed focus of the NGX brand, he said: “We realise that we also need to diversify our business model by attracting new and young Nigerians to the capital market.

“Events like this are important to us because it gives us the opportunity to diversify the narrative of the Nigerian capital market, and we will do everything we can to attach the necessary visibility to make sure that these instruments can trade efficiently, just as we continue the story around the market.”

On the important role the DMO plays in the Nigerian story, Popoola commended Oniha for making the debt market transparent to all, and for making it easy to see the journey and the unfolding developments.

…we will do everything we can to attach the necessary visibility to make sure that these instruments can trade efficiently, just as we continue the story around the market.

Speaking on the impact of the listing, Oniha, said the collaborations with NGX were in furtherance of the development of the Nigerian economy, as the issuance of the securities is being used to fund government projects.

She said: “The Sukuk transaction which began in 2017, gradually improved with the first two transactions being N100 billion and the last one now at N250 billion. With all the work market operators are doing, people are now getting more familiar and comfortable with these transactions.

“At DMO, we are supporting the government and creating more investment opportunities just as we are also collectively supporting securities transactions at NGX.”

DMO had listed on the NGX, the Triple-Tranche $4.00 billion Eurobonds consisting of 6.125% $1.25 billion notes due September 2028; 7.375% $1.5 billion notes due September 2023; and 8.25% $1.25 billion notes due September 2051, on Monday 31 January 2022.

Other securities listed on the Exchange are the N250.00 billion 10-year 13.00% Ijarah Sukuk Due 2031; and the 8.375% $1.25 billion Eurobond due March 2029, on Tuesday, 5 July 2022, and Thursday, 7 July 2022 respectively.

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