BOI Issues A €700 Million Eurobond To Assist Firms With Financial Assistance

The Bank of Industry (BOI) has issued a €700 million Eurobond to fund the expansion of enterprises in Nigeria. BOI is the first African national development financing institution (DFI) to issue a public Eurobond, according to a statement from Rand Merchant Bank (RMB), the global coordinator and active book-runner on the transaction. According to the statement, BOI issued the €700 million Eurobond using 144A/RegS senior note participation motes, which were irrevocably and unconditionally guaranteed by the federal government of Nigeria. It further stated that the BOI’s vision is to revolutionize Nigeria’s industrial sector by offering financial and business advising services […]