Nova Merchant Bank’s debut N10bn bond oversubscribed by 300%

Nova Merchant Bank’s 10 billion naira seven-year subordinated unsecured bond issuance was oversubscribed by 300 per cent. Investment in the bond which is part of the bank’s 50 billion naira debt issuance programme was restricted to qualified institutions and high net worth individuals. Ifeanyi Chkwuonye, Chief Financial Officer, Nova Merchant Bank joins CNBC Africa for more.

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