{"id":33468,"date":"2019-07-23T19:26:40","date_gmt":"2019-07-23T18:26:40","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=33468"},"modified":"2019-07-23T19:26:40","modified_gmt":"2019-07-23T18:26:40","slug":"dmo-lists-fgn-second-n100bn-sukuk-on-nse","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dmo-lists-fgn-second-n100bn-sukuk-on-nse\/","title":{"rendered":"DMO LISTS FGN SECOND N100BN SUKUK ON NSE"},"content":{"rendered":"<p class=\"yiv5631376145MsoNormal\">Debt Management Office (DMO) of Nigeria on Tuesday, July 23, 2019, listed on The Nigerian Stock Exchange, the second \u20a6100bn, 7-Year, FGN Sukuk due to mature in 2025.<\/p>\n<p class=\"yiv5631376145MsoNormal\">The Sukuk was raised at a rental rate of 15.743%, a 73-basis point discount from the 16.47% rental rate of the maiden issuance listed in April 2018.<\/p>\n<p class=\"yiv5631376145MsoNormal\">Sukuk bonds are structured to generate returns to ethical investors without infringing on the Islamic principles which forbid interest payments. It represents an ownership interest in the asset to be financed rather than in a debt obligation.<\/p>\n<p class=\"yiv5631376145MsoNormal\">According to DMO, the aim of the FGN Sukuk is to promote financial inclusion and deepen of the investor base for FGN securities. It will be deployed to financing infrastructure, in keeping with the Government\u2019s commitment to bridging the infrastructural gap across the country.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv5631376145MsoNormal\">Commenting on the Listing, Head, Trading Business Division, NSE, Mr. Jude Chiemeka said, \u201cAt the Exchange, we believe enhancing access to capital for the Federal Government and the private sector is key to national economic growth. This is the motivation behind our commitment to promote and support the growth of the debt market in Nigeria. Our efforts are geared towards expanding the NSE\u2019s position as the multi-asset hub, creating ample possibilities for our key stakeholders, while delivering a transparent and liquid market to investors\u201d.<\/p>\n<p class=\"yiv5631376145MsoNormal\">The emerging and frontier markets can expect greater traction in their quest to continually unlock dormant pools of capital. This listing is particularly important in scaling development for these economies characterized by daunting growth in infrastructure and also have a strong bias for Islamic Finance\u201d.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Debt Management Office (DMO) of Nigeria on Tuesday, July 23, 2019, listed on The Nigerian Stock Exchange, the second \u20a6100bn, 7-Year, FGN Sukuk due to mature in 2025.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":20500,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[812,740],"coauthors":[2391],"class_list":["post-33468","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-dmo","tag-nse"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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