Investors oversubscribe to BOI’s N250bn bond offer
The Bank of Industry Limited (BOI) has successfully closed its first N250bn Series 1 Fixed Rate Bond, which was oversubscribed by investors. The bond, issued under the bank’s $1bn Multi-Currency Instruments Programme, saw strong participation from a wide range of institutional investors. Olasupo Olusi, BOI’s Managing Director, credited the demand to investor confidence and support from President Bola Tinubu. The funds raised are expected to support Nigerian businesses, industrial growth, and economic diversification.
TLDR
- The N250bn bond attracted pension funds, banks, development finance institutions, corporates, and other institutional investors.
- Major anchors like the Nigeria Sovereign Investment Authority and International Finance Corporation participated in the transaction.
- Olasupo Olusi highlighted that government incentives and President Bola Tinubu’s support boosted investor interest.
- Proceeds from the bond will be used to finance Nigerian businesses, industrial expansion, and job creation.
- Final allotment details and subscription figures are pending regulatory approval and have not been disclosed.
