Olaniwun Ajayi LP advised on the establishment of the Bank of Industry bond programme. The USD1 billion multi-currency instrument programme also included the issuance of ₦274,186,800 Series 1 Bonds. The 17.60% five-year fixed-rate bonds are due in 2031.
The firm acted as Solicitor to the Transaction. This landmark deal marks a significant milestone in the development of Nigeria’s domestic debt capital market.
Supporting Bank of Industry’s funding strategy
The issuance forms part of the Bank of Industry’s efforts to diversify its funding sources and deepen its participation in Nigeria’s domestic debt capital market. The proceeds will support BOI’s core financing activities across priority sectors. These include investments that promote industrialisation, enterprise development, productive capacity and economic inclusion.
The Bank of Industry bond programme also shows the growing capacity of Nigeria’s domestic capital markets to mobilise substantial long-term Naira funding. Such capital can support development finance and Nigeria’s real economy.
Olaniwun Ajayi LP is proud to have contributed to this transaction. The firm continues to support major capital markets transactions that advance economic development and deepen Nigeria’s financial markets.