DMO Lists Series II FGN N15bn 7-Year Green Bond

The Nigerian Stock Exchange (NSE) said it was pleased to announce the listing of the Federal Government of Nigerian (FGN) N15 billion Green Bond on its daily official list, by Debt Management Office (DMO) on Monday, October 14, 2019.

According to the NSE, the 7-year Green bond issued at coupon rate of 14.50 per cent  on June 13, 2019 is due to mature on June 13, 2026.

“This Series II Green Bond issued to finance renewable energy, afforestation, and transportation projects, follows the debut Sovereign N10.69bn Green Bond that was issued in December 2017 and listed on the NSE in July 2018”, a statement said.

Commenting on the listing, Head, Trading Business Division, NSE, Mr Jude Chiemeka, said, “We are pleased to admit the Series II FGN Green Bond to our Green and Sustainable Bond Market. Our collaboration with the Ministry of Environment (MOE) and the DMO on deepening the Green Bond market, which dates back to 2016, reinforces the Exchange’s commitment to position Nigeria as a financial center for green and sustainable financing. The recent partnership with the Luxembourg Stock Exchange (LuxSE) further demonstrates NSE’s passion to provide enabling environment for issuers and investors in the Nigerian capital market. The Exchange will continue to work with key stakeholders in transitioning to a low-carbon and sustainable economy as well as develop innovative products and services in close collaboration with the market”.

 Chiemeka also congratulated the Minister of Environment and the Management of the DMO on the successful issuance of a second Green Bond; a laudable feat in addressing environmental challenges and fostering sustainable financing in Nigeria.

Nigeria’s participation in the Green bond market is in line with the Federal Government’s commitment to achieving its Nationally Determined Contributions (NDC) under the Paris Agreement on Climate Change signed in September 2016.