DLM Capital Launches N30bn SBCN Program in Nigeria

DLM Capital Group has launched a N30 billion Structured Bond Composite Note (SBCN) program, successfully executing its first principal coupon payment. This payment signifies a pivotal moment for the N30 billion initiative, which aims to combine high-yield corporate opportunities with robust sovereign collateral.

The program includes a N7.30 billion tranche and a N1.70 billion tranche, currently listed on the FMDQ Exchange. This achievement is particularly notable given the cautious market climate at the time of the instrument's launch in July 2025.

The leadership at DLM Capital Market has emphasized that this payout represents a first for the Nigerian capital market, demonstrating the validity of the SBCN structure. The instrument has been rated AAA, addressing the quality concerns prevalent among institutional investors and providing a bridge for capital preservation while optimizing yield.

DLM Capital Group is preparing for a Series 2 issuance, expecting to attract higher subscription rates from pension funds and insurance firms seeking stable high-yield assets.