FG lists $3bn Eurobond, diaspora bond on NSE

The federal government has listed its $3 billion Eurobond and $500 million diaspora bond on the Nigerian Stock Exchange (NSE).

Patience Oniha, director general of the Debt Management Office (DMO), disclosed this on Thursday.

Shesaid the federal government would reduce the nation’s debt cost in the coming years.

“We have already listed N1.5 billion early in the year, and we are coming toward the end of the year to list 3.3 billion dollars Eurobond,” she said.

Oniha said that government would rebalance its debt and international debt portfolio to 60:40 split in the coming years.

She added that the government would also list some of the securities issued in the international capital market in 2017 on the NSE because of the role of the capital market in economic development.

The director said funding of the budget deficit and refinancing the government’s inherited debt portfolio had been the key drivers behind the capital raising plans.

She said the Diaspora bond provided an opportunity for Nigerians abroad to contribute to the country’s development.

Oscar Onyema, NSE chief executive officer, said the federal government is the largest issuer of bonds on the exchange.

Onyema said that the exchange had collaborated with DMO and the federal government to introduce other types of bonds in the market.