The Bank of Industry Financing SPV Plc has closed its Series 1 N250 billion fixed-rate bond after achieving full oversubscription within five working days. Issued under the bank’s $1 billion multi-currency instruments programme, the transaction drew strong demand from a broad base of local institutional investors.
Key anchors included the Nigeria Sovereign Investment Authority and the International Finance Corporation, alongside pension fund administrators, commercial banks and corporate entities. The outcome underscores the growing capacity of Nigeria’s domestic financial system to channel institutional savings into long-term, patient capital.
BOI Managing Director Olasupo Olusi described the response as a firm endorsement of the institution and the national financial market. He said proceeds will be directed toward industrial expansion, strengthening local value chains and fostering job creation.
Olusi acknowledged executive intervention as a critical catalyst. President Bola Ahmed Tinubu granted specific incentives to stimulate investor participation, while an approved N100 billion fund allocation will be used to blend pricing on the bond. The measure is designed to cushion high prevailing interest rates for commercial borrowers and manufacturers.
The successful issuance marks a strategic pivot in BOI’s long-term capitalisation model. While the bank maintains an established presence in international capital markets, the domestic offering establishes a repeatable mechanism for securing long-term local funding.
Proceeds will expand BOI’s capacity to support eligible enterprises operating in high-priority economic sectors. Final allotment figures remain subject to regulatory approval, though the competitive pricing and quality of participating investors confirm deep liquidity for robust domestic assets.
