In line with its commitment to deepen liquidity in Nigeria’s mortgage market and expand access to affordable homeownership, the Nigeria Mortgage Refinance Company Plc (NMRC) has successfully raised ₦11.5 billion from the Debt Capital Markets through its Series 1 Bond issuance.
The issuance, coordinated by Stanbic IBTC Capital as Sole Issuing House and Book Runner, was oversubscribed by 100.4%, demonstrating strong investor appetite for NMRC’s credit and long-term role in Nigeria’s housing finance sector.
Commenting on the successful issuance, the Managing Director of NMRC, Mr. Kehinde Ogundimu, stated:
“NMRC is pleased with the strong reception of our Series 1 Bond issuance, which reflects continued investor confidence in NMRC’s business model and the critical role we play in strengthening Nigeria’s housing finance ecosystem. The successful execution of this transaction enables us to further support mortgage lenders with long-term funding and advance our objective of improving access to affordable housing finance.”
Proceeds from the 10-year fixed-rate bond will be used to refinance mortgage loan portfolios of eligible lending institutions, supporting liquidity in the housing finance sector.
The 2026 bond issuance comes under NMRC’s refreshed ₦440 billion Medium Term Note Programme and follows previous successful issuances, including the ₦10 billion Series 3 Bond in 2020, the ₦11 billion Series 2 Bond in 2018, and the ₦8 billion Series 1 Bond issued in 2015.
