| Bonds & Fixed Income |    3321 VIEWS  |
| Bonds & Fixed Income | |
| 3321 VIEWS | |
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Monday, June 10, 2019 / 01:55PM / 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 June 19, 2021: 11.418% per annum
3-Year FGN
Savings Bond due June 19, 2022: 12.418% per annum
Opening
Date:
June 10, 2019
Closing
Date: June 14,
2019
Settlement
Date: June 19,
2019
Coupon Payment
Dates: September
19, December 19, March 19, June 19
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.
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