Dipo Olowookere
By Dipo Olowookere
The duo of Stanbic IBTC Capital Limited and African Export-Import Bank (Afreximbank) has signed a N300 billion domestic bond programme.
The signing of this bond scheme was done at the Eko Hotel & Suites, marking the official kick-off of the initiative.
The establishment of the debt issuance programme in the Nigerian capital market by Afreximbank makes it the third supranational ever to join an elite group of Nigeria’s development partners, enabling the domestic capital market.
It is vital to establish the bond programme in local currency, considering the strong liquidity and current low yields in the domestic market.
This initiative by Afreximbank aligns with global best practice in treasury management and innovation to stay abreast of evolving market conditions. It will aid in stimulating the expansion and development of Nigeria, through the intervention in various sectors of the Nigerian economy.
The transaction was consummated in the presence of members of the Stanbic IBTC team, members of the Afreximbank Executive management team, representatives from the Nigerian Stock Exchange (NSE) and FMDQ Securities Exchange Plc, amongst others.
Stanbic IBTC Capital Limited, which remains fully committed to developing the Nigerian capital markets, has been at the forefront of driving financial innovation. The subsidiary of the Stanbic IBTC Holdings has been in the business of advising clients on staying ahead of changing times.
Afreximbank, a multi-product partner of Stanbic IBTC and the Standard Bank Group, is one of Africa’s largest Developmental Finance Institutions and a seasoned issuer in the international capital markets.
