DMO issues second Sovereign Green Bond, records 220% subscription

The Debt Management Office (“DMO”) has announced the results of its second Sovereign Green Bond offering (the “Offer”) for N15 billion.

The Offer, which opened to the general public on Monday, June 3, 2019 and closed on Monday, June 10, 2019, was preceded by road show meetings with and other in Lagos and Abuja.

 The results of the second Sovereign Green Bond issuance revealed increased knowledge and awareness of Green Bonds by subscribers, and perhaps also demonstrated a greater level of commitment from the general public towards protecting the environment.

Total value of subscriptions received was N32.93 billion, representing 220% of the N15 billion offered. Similarly, the number of subscribers doubled when compared to the figure for the first Sovereign Green Bond issued in December 2017. 

Retail were not left out, as the number of individuals who subscribed for the second Sovereign Green Bond more than doubled. The amount of subscriptions grew by almost 201% with the share of total subscriptions rising to 1.43%compared to 0.67% for the 2017 Sovereign Green Bond.

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