In a bold step towards reshaping the Nigerian capital markets, DLM Capital Group, a leading Nigerian development investment bank, has announced the successful completion of a ₦9 billion Series 1 Sovereign Bond Backed Composite Notes (SBCN) issuance due 2035 under its ₦30 billion Medium-Term Note Programme, through its special purpose vehicle, DLM Funding SPV Plc.
The issuance, which is AAA/AAA rated and SEC approved, was designed to deliver capital preservation, liquidity, and competitive returns. It attracted strong participation from a pool of institutional investors demonstrating continued confidence in DLM’s credit strength, innovative structuring capability, and proven track record of delivering secure investment products.
The SBCNs are structured to de-risk private credit and unlock safer access to capital for pension funds, development finance institutions (DFIs), and asset managers, while driving much-needed financial inclusion for MSMEs.
About the Issuance
- Instrument: Series 1 Sovereign Bond Backed Composite Notes
- Programme size: ₦30 billion
- Issue size: ₦9 billion
- Maturity: 2035
- Rating: AAA/AAA (highest rating)
- Use of proceeds: Investment in FGN Bonds and underserved SME sectors
- Target investors: Pension funds, DFIs, asset managers, HNIs
- Key benefit: Attractive yields with sovereign-level credit protection
This ₦9 billion milestone marks the beginning of DLM Capital Group’s ₦30 billion Medium-Term Note Programme. The initiative is expected to play a pivotal role in Nigeria’s journey towards a $1 trillion GDP, by unlocking capital, accelerating formal sector growth, and boosting productivity across critical sectors.
