Statistics on corporate bonds published on the website of the DMO showed that
1.Access Bank Plc kicked off the issuance of corporate bonds in 2005 with the issuance of N1.9bn bonds with a tenor of eight years.
2. In 2008, Crusader Nigeria Plc issued corporate bonds of N4bn with a tenor of five years.
3. In the same year, Custodian and Allied Insurance Plc issued a redeemable bond worth N1.17bn.
4. Guaranty Trust Bank Plc in 2009 issued corporate bonds worth N13.17bn with a coupon rate of 13.5 per cent and a maturity date of 2014.
5. The same year, C & I Leasing Plc also issued corporate bonds worth N2.24bn with a tenor of five years. The company returned to the market in 2012 to issue bonds worth N940m.
6. United Bank for Africa approached the market two times in the period under review to raise money. In 2010, the bank issued bonds worth N20bn with a coupon rate of 13 per cent and a tenor of seven years.
It came back to the market in 2011 to raise N35bn at a coupon rate of 14 per cent and a tenor of seven years.
Other companies that issued corporate bonds in 2010 included
7. NGC Sterile, N2bn
8.UAC Property Development Company Plc, N15bn
9. Flour Mills of Nigeria Plc, N35bn; and Chellarams Plc, N1.5bn.
10. Dana Group issued bonds worth N9bn
11. Sterling Bank, N7.5bn
12. WAPCO Nigeria Plc, N11.88bn
13. Nigeria Aviation Handling Company Plc, N2.15bn
14. Tower Funding, N4.63bn.
15. Crusader Insurance Plc returned to the market in 2012 to raise N2.26bn
16. Chellarams Plc also returned the same year to issue bonds worth N540m.
17. In the same period, the Federal Mortgage Bank of Nigeria also issued bonds worth N30.56bn with a coupon rate of 17.25 per cent and a tenor of five years.