London Stock Exchange Admits Nigeria’s Diaspora Bond

June 30, 2017
london stock exchange LSE

London Stock Exchange Admits Nigeria’s Diaspora Bond

By Modupe Gbadeyanka

The first diaspora bond sold by Nigeria recently was on Thursday, June 29, 2017, listed on the London Stock Exchange (LSE).

“We are delighted to welcome Nigeria’s third capital raising this year on London Stock Exchange,” Head of Middle East, Africa and South Asia, International Markets Unit at the LSE, Mr Ibukun Adebayo, said on the development.

“The innovative structure of the bond allows, for the first time, retail investors to participate in the financing of infrastructure projects as part of the development of Nigeria’s economy,” he added.

“The successful listing reinforces London Stock Exchange’s position as a strong partner for Nigeria and as a leading global venue for raising debt finance,” Mr Adebayo said.

This month, the Federal Government, through the Debt Management Office (DMO), raised $300 million from the exercise targeted Nigerians abroad who which to contribute to the development of the West Africa’s biggest economy.

Proceeds from the five-year, 5.625 percent bond would be used to fund infrastructure projects in the country.

The bond was oversubscribed by investors by about 130 percent, further affirming confidence in the Nigerian economy despite its present economic downturn.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

1 Comment

  1. ANIMAL CARE AND CONSULTANT IS BACK FOR THE LESS PRIVILEGE TO START UP SOMETHING TO MAKE PROFIT WITH HAPPINESS AND JOY.
    Animal Care consultant is give out all our products / items at a cheaper rate.
    FOR BOOKING AND INQUIRES CONTACT US VIA WHAT-APP AND CALL 0N +2349064932891
    EMAIL US ON [email protected]
    HERE ARE FEW LISTED PRODUCTS/ITEMS
    =GRASSCUTTER: 4month old ———#6,500
    =Colony 4month each——– #25,000.
    =Colony Pregnant ones———#35,500
    =Colony Point of birth————-#60,000
    =LOCAL RICE/FOREIGN RICE.
    =Local Rice(ofada)——#4,800
    =Foreign Rice———–#7,500.
    =PALM OIL 25LITER——–#6,500
    =CHARCOAL———–650 per bag
    = EGGS, BIG SIZE IS #700 with plastic crate but with carton crate is #650.
    =MEDIUM SIZE IS #600 with plastic crate but with carton crate is #550.
    =SMALL SIZE IS #400 with plastic crate but with carton crate is #350.
    =PIG FOREIGN AND LOCAL. PREGNANT ONES ARE ALSO AVAILABLE.
    =GOATS, RAMS, SHEEP, CHARCOAL, PALM =OIL,CORN(MAIZE), SNAILS, RABBITS, GRASS-CUTTERS,
    =DAY OLD BOILERS #120
    =DAY OLD LAYER #180
    =DAY OLD LOCAL TURKEY #250
    =DAY OLD FOREIGN TURKEY #450.
    =CAT FISH TABLE SIZE #800
    =FINGERLINGS #10
    =JUVENILES #30
    =POST JUVENILES #50
    WE SELL CAT FISH FEEDS AND BIRDS FEEDS
    =LOCAL AND FOREIGN FEED FROM #1,800 AND ABOVE.
    =ALL KIND OF CAGES ARE ALSO AVAILABLE. Thanks for patronizing us
    FAX: 0092349064932891.
    CONTACT US ON +2349064932891.
    WHATS-APP US ON 09064932891……,,,,

Leave a Reply

European Stocks Push Higher to Close Week
Previous Story

European Stocks Push Higher to Close Week

Asian Stocks Succumb to Heavy Selling Pressure
Next Story

Asian Stocks Succumb to Heavy Selling Pressure

Latest from Economy

Don't Miss