Trading activities turned bullish as inflows from the federal government of Nigeria (FGN) bond coupon payments spurred investors to cherry-pick bonds with attractive yields across the curve. The average yield on the bond instruments across tenors slumped amidst strong buying interest in the secondary market for local debt capital. As a result, the average yield […]
Globally, there is a clear shift in how people spend time together. As a matter of fact, technology is one of the vehicles people are using to spend quality time with loved ones, engage with businesses and perform their jobs. Loved ones who hadn’t seen each other in years are now seeing each other daily, […]
Abuja – The Debt Management Office (DMO), says investors’ confidence in Federal Government Securities remained high at the Federal Government Bond Auction conducted by the office on Wednesday. A statement issued by DMO on Wednesday in Abuja said this was reflected by the high subscription at the auction. According to DMO, it offered three instruments […]
Dangote Cement Plc. has unveiled plans to raise N300 billion ($833m) in bonds to fund expansion of its operations across the continent. Brian Egan, its chief financial officer (CFO), disclosed this during an investor conference call, according to Bloomberg reports The debt instrument would be issued in tranches of N50 billion at a time whenever […]
The Federal Government on Monday, announced that it has priced its offering of $3 billion aggregate principal amount of dual series notes under its $4.5bn Global Medium-Term Note programme (increased from US$1.5bn). The Notes comprise a $1.5bn 10-year series and a $1.5bn 30-year series. The 10-year series will bear interest at a rate of 6.5%, […]
Lagos state government on Monday announced the closure of the N85.14bn Series 2 Bond Issuance geared towards improving the physical and social infrastructure in the State. Commissioner for Finance, Mr. Akinyemi Ashade, in a statement, said the Bond was issued in two tranches of N46.37 bn ,16.75 percent Tranche 1 maturing August 2024 and the […]
The Chief Finance Officer (CFO), Wema Bank Plc, Mr. Tunde Mabawonku has said the lender might postponed second tranche N20 billion bond issuance, stressing that the bank is monitoring the interest rate regime in the country. The bank was targeting August to raise fresh capital in its expansion course following the Central Bank of Nigeria […]
The preponderance of debt instruments in the Nigerian capital market has been described as one of the major factors working against the development of the equities market, years after the global economic meltdown. Stock brokers who spoke to Daily Times on the impact of increasing bond offering to the market, said that hence the debt […]