Rand Merchant Bank (RMB) Nigeria served as Joint Issuing House for the Bank of Industry's (BOI) N274.18 billion five-year fixed-rate domestic bond due in 2031. The bond was BOI's inaugural naira-denominated domestic issuance and the largest debt capital markets transaction by a development finance institution in Nigeria. BOI initially targeted N250 billion but increased the offer due to strong investor demand. The bond attracted participation from pension fund administrators, banks, insurance companies, asset managers, and other institutional investors, highlighting confidence in BOI's mandate and financial strength.
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