Nigeria’s N10.69bn Sovereign Green Bond Oversubscribed – DMO

Nigeria’s N10.69bn Sovereign Green Bond Oversubscribed – DMO

Nigeria’s debut Sovereign Green Bond offer in December 2017 was oversubscribed, as total subscription received was 10.79 billion naira compared to the 10.69 billion naira offered.According to the Debt Management Office, some of the investors who subscribed to the green bond include banks, pension funds, asset managers and retail investors.

The DMO says this shows investors’ interest in new products and support for the objective behind the issuance of the bond which is to invest in projects that will contribute to preserving the environment.

The Sovereign Green Bond was offered for a tenor of five years with a coupon of 13.48 per cent.