FG set to issue N15bn Green Bond

The Federal Government is set to issue a Green Bond worth N15bn
to finance some projects in renewable energy, afforestation, and
transportation.

In a statement issued in Abuja on Monday, the Debt Management
Office said that the issuance of the bond was riding on the back of
the first Green Bond issued by the Federal Government in December
2017.

The DMO said, “Following the Federal Government of Nigeria’s
successful debut Green Bond issuance of N10.69bn in December 2017
by which Nigeria became the first African country to issue a Green
Bond, the Federal Government of Nigeria is set to undertake a
second issuance; a Series II Green Bond of up to N15bn.

“To ensure the success of the Series II Green Bond (“the
Offer”), the Federal Ministry of Finance, Federal Ministry of
Environment and the DMO will be engaging investors at respective
roadshows in Lagos and Abuja on May 27 and 28.

“The Series II Green Bond issuance is a further demonstration of
the Federal Government’s commitment to the reduction of greenhouse
gas emissions by 20 per cent (unconditionally) by 2030, as outlined
under the Paris Agreement signed on September 21, 2016.”

It added, “Through the offer, the Federal Government seeks to
raise N15bn to finance projects with green credentials. These
eligible green projects can be classified under three themes within
the green bond framework, namely: renewable energy, afforestation,
and transportation.

“Moody’s Investors Service has assigned a GB1 (Excellent) Green
Bond Assessment to the offer.”

The DMO said that it was working with Chapel Hill Denham
Advisory Limited, Capital Assets Limited, Rand Merchant Bank
Nigeria Limited, and Stanbic IBTC Capital Limited, as financial
advisers/issuing houses to the offer.

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