Market Trends
DLM Capital Secures Strong Investor Backing for ₦9 Billion Sovereign Bond
DLM Capital Group, a leading Nigerian development investment bank, has successfully completed a ₦9 billion Series 1 Sovereign Bond Backed Composite Notes (SBCN) issuance. This marks the first phase of its ambitious ₦30 billion Medium-Term Note Programme.
The transaction, which matures in 2035, was executed via DLM Funding SPV Plc and carries a AAA rating from the Securities and Exchange Commission. It’s designed to offer investors a blend of capital safety, liquidity, and attractive returns.
Institutional investors showed strong interest, signaling trust in DLM Capital’s financial strength and innovative approach. The signing ceremony was held at the firm’s Lagos headquarters, with key executives and board members in attendance.
Group CEO Dr. Sonnie Ayere highlighted the strategic importance of the issuance, noting that the funds will be directed toward Federal Government bonds and underserved SME sectors. Target investors include pension funds, asset managers, development finance institutions, and high-net-worth individuals.
This milestone sets the tone for future issuances under the ₦30 billion programme, which aims to unlock capital for Nigeria’s real economy and support the country’s journey toward a $1 trillion GDP.
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SUNU Assurances targets N9.34bn via rights issue
SUNU Assurances Nigeria Plc has commenced a rights issue to raise N9.34bn from existing shareholders as part of efforts to strengthen its capital base and expand operations in Nigeria’s insurance sector. The company is offering 2,075,285,715 ordinary shares of 50 kobo each at N4.50 per share. According to the Company Secretary, Taiwo Kuku, the offer…
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Allgreen to invest $10bn in 80m clean cookstove rollout
Allgreen Energy NV has announced plans to invest $10bn in the rollout of 80 million clean cookstoves across Nigeria under a large-scale energy transition programme. The investment was unveiled in Lagos during a media briefing organised by GreenPlinth Africa, where stakeholders also signed a manufacturing agreement for the first batch of 24 million cookstoves. The…
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OPay expands access to N1.2bn scholarship scheme
OPay has expanded its scholarship programme with the signing of Memoranda of Understanding with four tertiary institutions across Nigeria. The new partner institutions are Benue State Polytechnic, Kogi State Polytechnic, Montgomery Polytechnic, and Alex Ekwueme Federal University. With the addition, the total number of participating institutions in the programme has increased to 24 nationwide. The initiative is a N1.2bn, 10-year…