Debt Management Office (DMO), has raised over N652 billion in the N150 billion in its sixth Sovereign Sukuk whose Offer for Subscription closed on October 11, 2023.
According to debt office offer was was well received with a total Subscription of N652.827 billion, adding that this Subscription Level, which is 435% of the amount offered (N150 billion), shows that the level of awareness of the product has increased and that investors are willing to support the financing of infrastructure.
In response to this strong demand for the Sukuk, DMO has allocated N350 billion to the diverse investors who subscribed to the Sovereign Sukuk.
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The N350 billion will be used to finance the construction and rehabilitation of roads and bridges across the six (6) geopolitical zones and the Federal Capital Territory. The DMO remains committed to meeting the needs of investors while also supporting the development of the domestic capital market.