SOME state governments and quoted companies raised N53.48 billion from the bonds market of the
An analysis of the bond further showed that
In the period also the Ekiti State Government led and raised N5 billion at a coupon rate of 14.50 per cent, while Nasarawa State Government floated N5 billion bonds with a 15 per cent coupon rate.
Niger Government issued bonds worth N12 billion at a coupon rate of 14 per cent, while Kogi State Government raised N5 billion.
Osun Government during the period also floated bonds worth N11.4 billion at a coupon rate of 14.75 per cent.
Malam Garba Kurfi, the Managing Director,
Kurfi said that the global financial meltdown of 2008 was responsible for investors' loss of confidence in the equities market.
He also said that the emergence of corporate bonds in the market would reduce the overcrowding of government bonds.
Kurfi said that the capital market offer cheap long-term financing for development projects when compared with borrowing from the commercial banks.
Most Popular Stories
- Pickup Discounts Boost September Auto Sales
- Dallas Parents Fear Students Exposed to Ebola
- Review: Pay by Phone or Just Keep Using Plastic?
- Kurdish Militia Still Lack Weapons, Training
- N.Y. Ups Awards of State Contracts to Minorities
- Ebola Victim Was Sent Home by Dallas Hospital
- Lexus Luxury Compact Sedan Wins Buyers
- Group Offers Online Help for College Students
- What to Look for in Mich. Jobs Market
- Why the Bond Market Isn't as Safe as You Think