The Nigeria Mortgage Refinance Company says it plans to launch the second tranche bond issuance of N20 billion to raise additional funds for mortgage refinancing, within the third quarter of 2017.

The bond which is the second tranche of the series-1 of NMRC 15- year N140 billion medium-term note programme, is part of government’s effort to finance the nation’s increasing housing deficit.

According to the company’s Chief Executive Officer, Mr Charles Inyangete, the planned bond issue, was delayed due to high inflation and interest rates.

The company launched its first N8 billion bond in 2015, and was listed on the FMDQ OTC Securities Exchange and the Nigerian Stock Exchange, in September of the same year.

The NMRC was set up under the last administration with a seed capital support of 1.2 billion dollars and about 300 million dollars from the World Bank, to address mortgage financing gap in the country.