Debt Management Office DMO says Four Nigerian
banks have raised $1.45 billion (N234.102 billion) from the creation of sovereign
benchmark in the International Capital Market (ICM).
The DMO
Director-General, Abraham Nwankwo, said this at a one-day retreat on
‘Opportunities for the Private Sector from Public Debt Management’.
The event was
organised in Lagos by the DMO for financial journalists.
Nwankwo said that
the amount was raised between January, 2011 and July, 2013, adding that the
banks that issued the Eurobonds were Guaranty Trust Bank, Access Bank, Fidelity
and First Bank.
Nwankwo said that
achievements recorded in the development of the domestic debt management led to
the endorsement of the FGN Bond market by reputable financial institutions.
According to him,
the financial institutions were JP Morgan and Barclays Capital.
Nwankwo said that
the establishment of the Nigerian Sovereign Bond in the ICM provided foreign
investors with the requisite market information for investment decisions.
He said that the
sovereign bond created market benchmarks for future borrowings by the
sovereign, sub-national and corporate institutions.
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