The Debt Management office (DMO) has listed its third Sovereign Sukuk worth N162.557 billion on the Nigerian securities market and also the FMDQ Securities Exchange.
The instrument contains a seven-year tenure at the speed of 11.2 % with maturity in a pair 2027.
The DMO, in a very statement, yesterday, same the Sukuk, that at the time of issuing was massively signed to the tune of N669.124 billion or 446 %, was wont to finance forty four economic road comes across the six politics zones of the country.
“With the listing, investors World Health Organization square measure already holding the Sukuk security will trade them whereas new investors have a chance to shop for within the secondary market,” the statement other.
DMO same the issuing of Sovereign Sukuk in Gregorian calendar month 2017 is one among the measures towards attaining its strategic objective of bridging the infrastructure gap in Nigeria to market job creation and economic process.
Following the victorious issuing of the N100 billion Sukuk in 2017, the agency issued another N100 billion Sukuk in 2018.
The takings of the two Sukuk were deployed to the rehabilitation and reconstruction of road comes across the state.
Through the Sovereign Sukuk initiative, DMO has raised a complete add of N362.57 billion in but 3 years for the rehabilitation and construction of major economic roads within the six geo-political zones. DMO same that “by provision Sovereign Sukuk, the merchandise vary out there to investors within the domestic monetary market has augmented, whereas many retail investors are drawn to the monetary markets.”
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