In a step towards reshaping the Nigerian capital market, DLM Capital Group, a Nigerian development investment bank, has announced the successful completion of its N9 bn Series 1 Sovereign Bond Backed Composite Notes issuance under its N30 billion Medium-Term Note Programme.
The issuance, which is due in 2035, was carried out through its special purpose vehicle, DLM Funding SPV Plc. It is AAA-rated, approved by the Securities and Exchange Commission, and designed to deliver capital preservation, liquidity, and competitive returns.
The N9 bn issuance attracted strong participation from institutional investors, a development that the company said reflected confidence in DLM Capital’s credit strength, innovative structuring capability, and proven track record of delivering secure investment products.
The signing ceremony, hosted by DLM Advisory, the Financial Adviser, Transaction Structurer, and Joint Issuing House/Bookrunner for the transaction and a subsidiary of DLM Capital Group, took place at the Group’s headquarters in Lagos.
Present at the event were Group Chief Executive Officer of DLM Capital Group, Sonnie Ayere; Group Managing Director, DLM Global Markets, Babatunde Obaniyi; and others.
Commenting on the transaction, Ayere said the successful issuance underscored DLM Capital Group’s commitment to building innovative financial instruments that protect investor value while unlocking opportunities across the real economy. He noted that the firm’s approach balances safety, liquidity, and competitive returns, while ensuring capital is channelled into sectors such as small and medium enterprises, which are critical to Nigeria’s long-term development.
The proceeds of the issuance will be invested in Federal Government of Nigeria Bonds and underserved SME sectors, with the target investors including pension funds, development finance institutions, asset managers, and high-net-worth individuals.
According to the Group, the N9 bn milestone marks the beginning of its N30 bn Medium-Term Note Programme, which is expected to play a pivotal role in Nigeria’s drive towards a $1 tn economy by unlocking capital, accelerating formal sector growth, and boosting productivity across critical sectors.
