Bonds & Fixed Income | |
Bonds & Fixed Income | |
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Wednesday, September 17, 2018/ 01.48
PM / 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
N35,000,000,000
– 12.75% FGN APR 2023 (5-Year Re-opening)*
N35,000,000,000
– 13.53% FGN MAR 2025 (7-Year Re-opening)*
N45,000,000,000
– 13.98% FGN FEB 2028 (10-Year Re-opening)*
Auction
Date: October 24, 2018
Settlement
Date: October 26, 2018
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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