{"id":10264,"date":"2026-09-16T08:31:32","date_gmt":"2026-09-16T08:31:32","guid":{"rendered":"https:\/\/ograsset.com\/?p=10264"},"modified":"2026-09-16T08:31:33","modified_gmt":"2026-09-16T08:31:33","slug":"rmb-boi-strengthen-partnership-with-n274-18bn-debt-issuance","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/09\/16\/rmb-boi-strengthen-partnership-with-n274-18bn-debt-issuance\/","title":{"rendered":"RMB, BOI strengthen partnership with N274.18bn debt issuance"},"content":{"rendered":"\n
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Rand Merchant Bank Nigeria has acted as Joint Issuing House on the issuance of the Bank of Industry\u2019s inaugural domestic Naira-denominated N274.18bn five-year fixed-rate bond due 2031, marking the largest debt capital markets issuance by a Development Finance Institution in Nigeria.<\/p>\n\n\n\n

The transaction was oversubscribed after the BOI initially sought to raise N250bn. Strong investor appetite enabled the bank to upsize the offer to N274.18bn, demonstrating market confidence in its mandate, financial resilience, and pivotal role in driving Nigeria\u2019s industrial growth.<\/p>\n\n\n\n

A broad spectrum of institutional investors participated in the landmark raise, including Pension Fund Administrators, commercial banks, insurance firms, asset managers, and development finance institutions. The robust response underscores the depth of liquidity within the domestic capital market and the capacity of local institutional capital to fund long-term development.<\/p>\n\n\n\n

The deal consolidates RMB Nigeria\u2019s corporate relationship with the DFI, having previously served as financial adviser on BOI\u2019s inaugural Eurobond issuance and supported the establishment of its domestic bond programme.<\/p>\n\n\n\n

Commenting on the milestone, Executive Director and Head of Investment Banking for Broader Africa at RMB Nigeria, Chidi Iwuchukwu, said, \u201cThis transaction demonstrates the ability of Nigeria\u2019s capital markets to mobilise long-term capital at scale. BOI plays an important role in advancing industrialisation, enterprise growth, and job creation. We are pleased to have partnered with the bank on this issuance and remain focused on delivering financing solutions that support sustainable economic growth in Nigeria and across the broader African continent.\u201d<\/p>\n\n\n\n

Also speaking, Head of Debt Capital Markets at RMB Nigeria, Laju Atake, noted, \u201cSupporting inaugural issuers and significant capital markets transactions is a core strength of RMB\u2019s debt capital markets franchise. Over the past nine months, we have advised five distinct issuers on their debut debt capital markets transactions in Nigeria. BOI\u2019s domestic bond issuance reflects the continued development of Nigeria\u2019s capital markets and the importance of efficient access to long-term capital for leading institutions.\u201d<\/p>\n\n\n\n

RMB expressed its appreciation to the Securities and Exchange Commission, the Central Bank of Nigeria, transaction advisers, and participating market operators whose regulatory oversight and technical support facilitated the successful execution of the transaction.<\/p>\n\n\n\n

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RMB, BOI strengthen partnership with N274.18bn debt issuance<\/a><\/blockquote>