FG Sukuk Series V – Greenwich Merchant Bank supports the Federal Government to raise N130 Billion for infrastructure projects

Greenwich Merchant Bank Limited, a mandated Issuing House to the Federal Government’s 15.64% N100 Billion Sukuk V Issuance has successfully closed the offer with a subscription level of over N165 Billion.

The Guardian gathered that the initial N100 Billion offered was upsized to N130 Billion due to the subscription level of over 165%, evidencing Investor’s sustained appetite for the FGN Sukuk programme led by the Debt Management Office, Nigeria.

The proceeds of the Sukuk V Issuance, the Guardian also gathered, will be used to finance road rehabilitation and construction projects across the six geo-political zones of the Country.

Speaking on this development, the Managing Director, Greenwich Merchant Bank, Mr Bayo Rotimi said ” the Bank’s participation as an Issuing House in the Sukuk transaction is evidence of our focus on infrastructural development as a key driver of economic development”.

Greenwich Merchant Bank is very proud to have supported the Federal Government in this milestone transaction and remains determined to deliver solutions that improve the socio-economic position of Nigerians.

In 2021, Greenwich Merchant Bank also served as an Issuing House in the FGN N250 Billion Sukuk IV Issuance which was over-subscribed by 346%.