DMO commemorates listings of Eurobonds, Sukuk on NGX

Debt Management Office (DMO) has leveraged the Closing Gong ceremony of Nigerian Exchange Limited (NGX) to commemorate the listing of a Triple-Tranche $4billion Eurobonds, $1.25billion Eurobonds and the N250billion Sukuk on the Exchange.

The event which took place on Thursday July 28, 2022, featured the management of DMO led by Patience Oniha, Director General and other facilitators of the transactions.

Temi Popoola, CEO, NGX, in his remarks, assured stakeholders of the Exchange’s capacity to be a veritable platform for listings 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 the Director General for making the Debt market transparent to all Nigerians and for making it easy to see the journey and the developments happening in the Nigerian debt story.

Read also: DMO lists Triple-Tranche bonds on NGX

Speaking on the impact of these listings, Patience Oniha, Director General, DMO 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.

“The Sukuk transaction which began in 2017, gradually improved with the first two transactions being N100billion and the last one now at N250billion. 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 NGX, the Triple-Tranche $4billion Eurobonds consisting of 6.125percent $1.25billion Notes Due September 2028; 7.375percent $1.5billion Notes Due September 2023; and 8.25percent $1.25billion Notes Due September 2051 on Monday January 31, 2022. Other securities listed on the Exchange are the N250billion 10-year 13percent Ijarah Sukuk Due 2031 and the 8.375percent $1.25billion Eurobond Due March 2029, on Tuesday July 5, 2022 and Thursday July 7, 2022 respectively.