BOI to raise $10 billion from international investors to support real estate sector.
Bank of Industry (BOI) has announced that it intends to raise roughly $10 billion to strengthen its involvement after raising over $4 billion in the last four years from over 100 international banks/investors in over 20 countries.
The monies raised
over the years strengthened the bank’s capabilities to serve Nigeria’s real sector, according to BOI Managing Director Olukayode Pitan.
Pitan praised President Muhammadu Buhari for his support in allowing the bank to engage the foreign capital market and close numerous funding transactions during the inauguration of the bank’s second tower in Abuja.
According to him, some of the transactions include a $750 million syndicated medium-term loan that was fully paid in 2018, a €1 billion syndicated loan in March 2020, a $1 billion syndicated loan in December 2020, and a €750 million senior Eurobond in February 2022 (the first by any African national DFI).
