Nigerian Govt set to issue N15bn Green Bond

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The Federal Government is set to issue a second Series II Green Bond of up to N15 billion.
The Debt Management Office (DMO) in a statement, released in Abuja said the fresh issuance is coming as a result of “the successful debut Green Bond Issuance of N10.69 billion in December 2017 – by which Nigeria became the first African country to issue a Green Bond.”
The statement noted that “to ensure the success of the Series II Green Bond (“the Offer”), the Federal Ministry of Finance, Federal Ministry of Environment and the Debt Management Office (“DMO”) will be engaging investors at respective Roadshows in Lagos and Abuja on May 27, 2019 and May 28, 2019.
Read also: Investors demand more of 30-year FGN bond
Also that “the Series II Green Bond issuance is a further demonstration of the FGN’s commitment to the reduction of greenhouse gas emissions by 20% (unconditionally) by 2030, as outlined under the Paris Agreement signed on September 21, 2016.
“Through the Offer, the FGN seeks to raise N15 billion to finance projects with green credentials. These eligible green projects can be classified under three (3) themes within the green bond framework, namely: renewable energy, afforestation, and transportation,” the.DMO said.
The DMO in the statement said “Moody’s Investors Service has assigned a GB1 (Excellent) Green Bond Assessment to the Offer.”
The DMO will be working with Chapel Hill Denham Advisory Limited, Capital Assets Limited, Rand Merchant Bank Nigeria Limited, and Stanbic IBTC Capital Limited as Financial Advisers/Issuing Houses to the Offer.

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