The Bank of Industry (BOI) has opened subscriptions for a N250bn bond aimed at raising long-term funding for businesses and projects across Nigeria, as the development finance institution moves to strengthen access to capital in key sectors of the economy.
The offer, launched through BOI Financing SPV Plc under the bank’s $1bn multi-currency instruments programme, opened on August 5 and will close on August 11, 2026. The five-year fixed-rate bond carries a yield range of 17.35 per cent to 17.50 per cent and is expected to be listed on the FMDQ Securities Exchange, with Chapel Hill Denham serving as the lead issuing house.
According to the offer document, funds raised will support eligible businesses in sectors including agriculture and food processing, healthcare, engineering and technology, renewable energy, petrochemicals, oil and gas, creative industries and solid minerals. BOI said the financing is designed to expand productive capacity, create and preserve jobs, encourage local value addition, support exports and strengthen domestic supply chains.
The latest fundraising comes as BOI continues to expand its role in financing Nigerian enterprises. The bank said it has supported more than one million businesses nationwide and disbursed over N1.27tn between 2023 and 2025. Its financial performance has also strengthened, with gross earnings recording a 36 per cent compound annual growth rate between 2021 and 2025, while its capital adequacy ratio stood at 39 per cent, significantly above the regulatory minimum.
The bond has received AAA ratings from Agusto & Co. and Intelligence Africa, reflecting BOI’s strong capitalisation, liquidity and financial position. The offer is available to institutional and qualified investors, with a minimum subscription of N5m and additional investments in multiples of N1m. Interest will be paid twice a year at a fixed rate, while principal repayment will begin in the third year through equal semi-annual instalments until maturity in 2031.
source: punch
