July 2021 FGN Savings Bonds Offer for Subscription

Proshare

Monday, July 05, 2021 / 09:55 AM / by DMO / Header Image Credit: AltFi


Proshare Nigeria Pvt. Ltd.



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 14, 2023: 8.35% per annum

 

3-Year FGN Savings Bond due July 14, 2024: 9.35% per annum

 

Opening Date:                                  July 5, 2021

 

Closing Date:                                    July 9, 2021

 

Settlement Date:                              July 14, 2021

 

Coupon Payment Dates:                 October 14, January 14, April 14, July 14

 

Summary of the Offer 

Issuer 

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.

 

Interest Payment 

Payable Quarterly

 

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. Qualifies as a liquid asset for liquidity ratio calculation for banks.

 

Security 

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.


Proshare Nigeria Pvt. Ltd.



Related News

  1. June 2021 FGN Savings Bonds Offer for Subscription
  2. May 2021 FGN Savings Bonds Offer for Subscription
  3. NGX Lists Additional Units of FGN Bonds Issued in May and June 2021
  4. DMO Sells N330bn Worth of FGN Bonds on the Back of a Strong FGN Bond Auction Demand
  5. Coronation Merchant Bank Lists N25bn Bond on NGX
  6. Ahead of Nigerian Treasury Bills (NTB) Auction Scheduled for 30 June 2021
  7. Tepid Performance Persists as Average Yield on NT-Bills Closes Flat at 6.50% WoW
  8. Fixed Income Q2 2021: Rising Supply of Paper, Wider Yields
  9. Another Step Towards the DMO's Funding Target
  10. June 2021 FGN Bond Auction Review: Rates Party Coming to a Close?

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP