in ,

Nigeria’s First Diaspora Bond Starts Trading On London Stock Exchange

Per Second News—The London Stock Exchange Thursday welcomed Nigeria’s first Diaspora Bond to start trading on the Main Market.


The first bond of its kind from sub-Saharan Africa, according to the exchange.  Nigeria’s Proceeds from the five-year, 5.625% bond will be used to fund infrastructure projects in the country. The bond is the first from an African country that is registered with both the UKLA and the U.S. SEC and targeted at retail investors. Interest in the bond was high from retail investors around the world and was 130% subscribed, raising a total of $300 million. The bond follows the successful raising of $1.5 billion through Nigeria’s Eurobond earlier this year.

The Retail bond is aimed at Nigeria’s global expatriate community seeking to invest in the country’s development.

“Today, Nigeria records another milestone in international capital markets as it lists its debut Disapora Bond on London Stock Exchange. The opening of this source of funding for Nigeria and the listing of the Diaspora Bond on London Stock Exchange will ensure that the opportunity to invest in Nigeria will be available to a wider range of investors especially Nigerians in Diaspora who wish to contribute to the development of the country and also earn returns. Further issuances of the Diaspora Bond are planned to finance the development of Nigeria’s infrastructure, said Director General of the Debt Management Office (DMO), Dr. Abraham Nwankwo.

Ibukun Adebayo, Head of Middle East, Africa and South Asia, International Markets Unit, London Stock Exchange said:

“We are delighted to welcome Nigeria’s third capital raising this year on London Stock Exchange. 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. 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”.








Written by Per Second News


Leave a Reply

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.



Buhari Rely on NAF 001 Aircraft For Protection, Technology And Comfort- Presidency

Trump, Daughter host two escaped Chibok girls at the White House