Quest Merchant Bank Powers Nigeria’s Growth with ₦250 Billion Bond Issuance
Quest Merchant Bank Limited has reinforced its position as a key player in Nigeria’s capital markets by serving as Joint Lead Issuing House on the Bank of Industry (BOI) Financing SPV PLC’s groundbreaking ₦250 billion Series 1 Fixed Rate Bond issuance.
The bond offering, which took place from August 5 to August 11, 2026, was oversubscribed, highlighting strong institutional investor confidence and a robust appetite for long-term Nigerian Naira funding. This successful issuance underscores the capacity of Nigeria’s domestic capital market to mobilise substantial long-term capital to support productive economic activities.
Issued under BOI Financing SPV PLC’s US$1 billion Multi-Currency Instruments Programme, the five-year bond attracted diverse participation from qualified investors. It received AAA ratings from Agusto & Co. and Intelligence Africa and will be listed on the FMDQ Securities Exchange Limited.
As a Joint Lead Issuing House, Quest Merchant Bank leveraged its extensive capital markets expertise, transaction execution prowess, and strong relationships with institutional investors to facilitate the transaction. This achievement highlights Quest’s ability to structure sophisticated capital markets solutions that effectively link issuers with key investors, fostering the efficient flow of capital into Nigeria’s economy.
Commenting on the transaction, Afolabi Olorode, Managing Director/CEO of Quest Merchant Bank Limited, stated:
“This transaction goes beyond raising capital. It connects institutional investors with the real economy and creates a platform that enables Nigerian businesses to grow, invest and compete. We are particularly pleased to have served as a Joint Lead Issuing House for an issuance of this scale, because it demonstrates the capacity of Nigeria’s capital markets to mobilise long-term funding for productive activity. At Quest Merchant Bank, we are committed to structuring solutions that deliver value for issuers and investors while contributing meaningfully to the development of the Nigerian economy.”
This landmark issuance reinforces Quest Merchant Bank’s expanding influence in Nigeria’s capital markets and its dedication to providing innovative financing solutions. Through its market expertise, strategic relationships, and deep understanding of investor needs, Quest continues to connect capital with opportunity, supporting the development of a more resilient and efficient Nigerian financial landscape.
