Bonds & Fixed Income | |
Bonds & Fixed Income | |
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Tuesday, September 17
2019 05:28PM / DMO
The Central Bank of Nigeria on the
authority of The Debt Management Office on behalf of the Federal Government Of
Nigeria Offers for Subscription by Auction and is authorized to receive
applications for
N45,000,000,000 - 12.75% FGN APR 2023
(5-Yr Re-opening)*
N50,000,000,000 - 14.55% FGN APR 2029
(10-Yr Re-opening)*
N55,000,000,000 - 14.80% FGN APR 2049
(30-Yr Re-opening)*
Auction Date: September 25, 2019
Settlement Date: September 27, 2019
SUMMARY OF THE OFFER
ISSUER:
Federal Government of Nigeria ("FGN")
UNITS OF SALE:
N1,000 per unit subject to a minimum
subscription of N10,000 and in multiples of N1,000 thereafter
INTEREST RATE:
For Re-openings of
previously issued bonds, (where the coupon is already set), successful bidders
will pay a price corresponding to the yield-to-maturity bid that clears the
volume being auctioned, plus accrued interest from the original issue date.
INTEREST PAYMENT:
Payable semi-annually
REDEMPTION:
Bullet repayment on the maturity date
STATUS:
1. Qualifies as securities in which
trustees can invest under the Trustee Investment Act
2. Qualifies as Government securities
within the meaning of Company Income Tax Act ("CITA") and Personal Income Tax
Act ("PITA") for Tax Exemption for Pension Funds amongst other investors
3. Listed on the Nigerian Stock
Exchange
4. All FGN Bonds qualify as liquid
assets for liquidity ratio calculation for banks
SECURITY:
FGN Bonds are backed by the full faith
and credit of the Federal Government of Nigeria and are charged upon the
general assets of Nigeria
HOW TO INVEST
Kindly download, print and complete the tender form.
The duly completed form should be
scanned and sent to:
ievbosomon@dunnlorenmerrifield.com or bbhadmus@dunnlorenmerrifield.com
* (1) The DMO
reserves the right to alter the amount allotted in response to market
conditions
* (2) Retail Investors are
encouraged to participate
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