Bonds & Fixed Income | |
Bonds & Fixed Income | |
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Tuesday, August 11 2020 06:35 AM / by DMO / Header Image Credit: Business247
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
N25,000,000,000 - 12.50% FGN JAN 2026 (10-Yr Re-opening)*
N40,000,000,000 - 12.50% FGN MAR 2035
(15-Yr Re-opening)*
N45,000,000,000 - 9.80% FGN JUL 2045
(25-Yr Re-opening)*
N40,000,000,000 - 12.98% FGN MAR 2050
(30-Yr Re-opening)*
Auction Date: August 19, 2020
Settlement Date: August 21, 2020
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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