The Debt Management Office (DMO), on behalf of the federal government, has commenced the process of appointing two international banks as joint lead managers and a local bank as financial adviser for the planned Federal Government Medium Term Note (FGMTN) Programme (2016-2018) as well as the issuance of $1 billion out of the $4.50 billion FGMTN programme in 2016.
In addition, the federal government is also seeking to retain the services of an international and Nigerian law firms which will act as joint legal advisers for the FGMTN.
The legal advisers will be appointed separately by the DMO. Furthermore, the federal government plans to engage the services of a technical adviser on communication who will be required to work with other transaction advisers to ensure the successful implementation of the FGMTN.
The DMO, in a notice of request for proposal on the positions being advertised, which was posted on its website, said the purpose of the FGMTN programme was “to enable the federal government have the flexibility of quickly taking advantage of favourable market conditions in the International Capital Market (ICM) to raise funds, if and only when the need arises\”.