The Bank of Industry’s Series 1 Bond Issuance has received approval from the Securities and Exchange Commission (SEC). The approval covers the registration of BOI’s US$1 billion Medium-Term Multi-Currency Instruments Programme and the commencement of book building for fixed-rate bonds of up to ₦250 billion as the inaugural series under the Programme.
The proposed issuance represents part of the bank’s ongoing efforts to diversify its funding sources, deepen its engagement with Nigeria’s domestic debt capital market and expand long-term financing to Nigeria’s real sector.
Structure of the Series 1 Bond Issuance
The Series 1 Bonds issuance is a five-year fixed-rate bond with semi-annual coupon payments. The repayment profile includes a 2-year principal moratorium period followed by an amortising repayment, consistent with the asset-liability characteristics of development finance lending.
Proceeds from the issuance are intended to support the expansion of the bank’s core financing activities across priority sectors of the economy, in line with its mandate to promote industrialisation, enterprise development, and economic inclusion.
The transaction advisers are Chapel Hill Denham and Quest Merchant Bank as issuing houses. Further details on the offer can be obtained from the prospectus and other supporting documentation.
The issuance will contribute to the continued development of Nigeria’s domestic fixed-income market by introducing a new category of development finance instruments within the investment-grade segment, while providing institutional investors with access to instruments aligned with long-term development-financing objectives.
About BOI
The Bank of Industry (BOI) is Nigeria’s leading development finance institution, established in 1959 and reconstituted in 2001 to drive industrial growth and inclusive economic
development. The Bank provides long-term financing and advisory support to enterprises across key sectors, strengthening local production, value chains and job creation.
Between 2023 and 2025, BOI supported over 1 million enterprises and disbursed more than ₦1.27 trillion to businesses nationwide, helping to expand productive capacity and improve access to finance for underserved segments of the economy. Through its nationwide footprint and strong international partnerships, BOI continues to play a central role in accelerating sustainable private-sector-led growth and economic diversification in Nigeria.
The Series 1 Bond Issuance will contribute to the continued development of Nigeria’s domestic fixed-income market by introducing a new category of development-finance instruments within the investment-grade segment. It will also provide institutional investors with access to instruments aligned with long-term development-financing objectives.
https://x.com/BOINigeria
https://www.linkedin.com/company/bank-of-industry-limited
https://www.instagram.com/boinigeria
BOI
Theodora Amechi +234 0201 271 5070 Ext 2887, tamechi@boi.ng
Website: www.boi.ng – Press Office; strategiccommunications@boi.ng