We are pleased to inform you of the upcoming N25 Billion Fixed Rate Senior Guaranteed Series 1 Bond Issuance by River Jamieson SPV Limited ("River Jamieson" or "the Issuer") under its N25 Billion Bond Issuance Programme. The Bonds will be sponsored by the Edo State Government ("the State") and guaranteed by an Irrevocable Standing Payment Order ("ISPO") on the State's revenue issued by the State's Ministry of Finance.
Proceeds from the ISPO shall be remitted monthly into a Sinking Fund Account, established, and managed by appointed Bond Trustees (the Trustees are duly registered with the Securities and Exchange Commission), for the purpose of meeting all obligations in accordance with the Trust Deed.
The State's focus on strengthening its public institutions, facilitating private sector investments, improving infrastructure, and facilitating public education reform has continued to yield significant benefits. The State's Internally Generated Revenue ("IGR") grew at 11% CAGR between 2016 and 2019 (averaging N24 Billion annually) with tax sources accounting for 67% of IGR. The State is embarking on this capital raise to support infrastructural investments to enable it to improve upon its already strong growth trajectory.
Please find above the indicative terms of the Offer:
We look forward to your participation in the Edo State Government - River Jamieson SPV Limited's up to â‚¦25 Billion Series 1 Bond Issuance.
For further information; kindly send a request via firstname.lastname@example.org