BOI RAISES ₦274.19BN THROUGH LANDMARK DEVELOPMENT BOND

The Bank of Industry has raised ₦274.19 billion through the issuance of its Series 1 Development Bond, with FCMB Capital Markets Limited serving as Joint Issuing House and Bookrunner for the transaction. The bond issuance represents a major step in the bank’s efforts to mobilise long-term funding to support development-focused investments and expand financing opportunities for businesses and other productive sectors of the Nigerian economy.

FCMB Capital Markets played a key role in structuring and executing the transaction, working alongside other parties involved in the capital-market process. The company’s involvement covered the issuance and bookbuilding process, helping to connect the Bank of Industry with investors and facilitate the successful raising of the substantial amount. The transaction further demonstrates the role of the Nigerian capital market in providing institutions with access to longer-term financing for strategic economic activities.

The Bank of Industry is Nigeria’s development finance institution with a mandate to provide financing and other support to businesses across different sectors of the economy. Funds raised through development bonds can provide the bank with additional resources to finance projects and enterprises that contribute to industrialisation, job creation and economic growth. The latest issuance therefore comes at a time when access to affordable and sustainable long-term funding remains important for businesses seeking to expand their operations.

FCMB Capital Markets said its participation in the transaction reflects its commitment to supporting innovative financing solutions and deepening Nigeria’s capital market. The successful bond issuance also highlights growing opportunities for institutional investors to participate in instruments designed to channel capital toward development-related activities. Through such transactions, financial institutions can help mobilise domestic and institutional funds for projects with longer-term economic objectives.

The ₦274.19 billion transaction adds to the growing activity in Nigeria’s debt capital market as issuers seek alternative sources of funding amid changing economic conditions. For the Bank of Industry, the proceeds are expected to strengthen its capacity to deliver on its development mandate, while FCMB Capital Markets’ role reinforces its position in arranging and executing major capital-market transactions. The successful completion of the issuance is also expected to contribute to continued efforts to deepen the market and improve access to long-term financing for Nigeria’s productive sectors.