DLM Capital Delivers First Payment On Sovereign Bond-backed Notes

DLM Capital Group has successfully made the first principal and coupon payment on its AAA-Rated Sovereign Bond-Backed Composite Notes (SBCNs), thereby reinforcing investor confidence in the structure.

Issued under a N30 billion programme, the Series 1 Notes N7.30 billion Tranche A (40.62 per cent HTM return) and N1.70 billion Tranche B (19.07 per cent), are now listed on FMDQ, with Tranche A emerging as the most valuable AAA-rated corporate bond in Nigeria.

Originally met with cautious interest at launch in July 2025, the SBCNs have now proven their strength in execution. The instrument, rated AAA by GCR and DataPro, has delivered on its core promise: strong credit quality, reliable cashflows, and enhanced returns.

“This first payment is a clear validation of the structure,” said DLM Capital. “It demonstrates that the SBCNs are not just innovative but dependable.”

Backed by sovereign bond collateral and designed for capital preservation and yield optimisation, the SBCNs are quickly gaining traction among institutional investors seeking high-quality fixed income opportunities. With momentum building toward Series 2, DLM Capital is setting a new standard for structured debt innovation in Nigeria’s capital markets.