Tuesday, July 03, 2018 /08:20 AM / DMO
Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004
Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates
2-Year FGN Savings Bond due July 11, 2020: 10.483% per annum
3-Year FGN Savings Bond due July 11, 2021: 11.483% per annum
Opening Date: July 2, 2018
Closing Date: July 6, 2018
Settlement Date: July 11, 2018
Coupon Payment Dates: October 11, January 11, April 11, July 11
Summary of the Offer
Federal Government of Nigeria (“FGN”)
Units of Sale
N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.
Bullet repayment on the maturity date
- Qualifies as securities in which trustees can invest under the Trustee Investment Act.
- 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.
- Listed on The Nigerian Stock Exchange.
- Qualifies as a liquid asset for liquidity ratio calculation for banks.
Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.
Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.
1. Bond Yields Trend higher as Market Players Stay Risk off
2. Fixed Income Market Monitor – Average Money Market Rate Increased by 10.42%
3. Offshore Selloff, Weak Local Demand Drive Bond Yields Higher
4. CBN Holds Off on OMO as Interbank SLF hits 5-Week High
5. Summary of June 2018 FGN Bond Auction
6. DMO Raises only Half of Total Bonds Offered in yet another Weak Auction
7. Bond Yields Tick Higher Ahead of Auction Tomorrow
8. Funding Rates rise above 10pct as CBN Resumes OMO Auction
9. Borrowing Cost on External Debt to Increase
10. Lotus Halal Fixed Income Fund Listed On NSE
11. T-bills Remain Bearish Despite Robust System Liquidity
12. T-bill Yields Tick Higher Despite Huge OMO Inflows
13. Offshore Selloff Drives FGN Bond Yields Closer to 14%
14. DMO Publishes Q1 2018 Debt Data; Total Public Debt Stood At N22.71trn or US$74.28bn
15. Invest in FGN Monthly Bond Auction – June 2018
16. Funding rates Crash below 5% as CBN Holds off on OMO ahead of Sallah Break
17. Market players Stay Cautious despite Projected Decline in Inflation
18. Investors Remain Bearish on Nigerian Eurobonds ahead of Expected US Rate Hike