Invest in FGN Monthly Bond Auction - July 2020

Proshare

Monday, July 20 2020  11:15 AM / DMO / Header Image Credit: BizWatchNigeria


Proshare Nigeria Pvt. Ltd.


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)*

N35,000,000,000 - 12.50% FGN MAR 2035 (15-Yr Re-opening)*

N35,000,000,000 - FGN JUL 2045 (25-Yr New Issue)*

N35,000,000,000 - 12.98% FGN MAR 2050 (30-Yr Re-opening)*

 

Auction DateJuly 22, 2020

Settlement DateJuly 24, 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

 

Proshare Nigeria Pvt. Ltd.


Related News

  1. The Bears Resurface as Average Yield Inches 7bps WoW Due to Tight System Liquidity
  2. Bond Bulls Resumed Demand For FGN Bonds After The Previous Day's Pull-Back
  3. Angola Lead The Sub-Saharan Africa Eurobonds With Nigeria Strengthening In The Shadows
  4. Demand For Bonds Continues For Another Consecutive Session
  5. Fixed Income Quarterly Q2 2020: Few Places to Hide
  6. New Week, Same Song: Bulls Continue The Stampede For Bonds
  7. Anchoria Fixed Income Monitor: An Activities Filled Week With T-Bills, OMO and Bond Auction
  8. The Bulls Re-emerge as Average Yield Dips 1.2% WoW
  9. Fixed Income Markets Close The Week Strong As Bulls Continue to Swipe Up Available Bonds
  10. Some Room for Manoeuvre for the DMO
  11. Secondary Market Bond Yields Drop Aggressively Following Auction Rate Cuts
  12. Summary of FGN Bond Auction Results For June 2020

     Proshare Nigeria Pvt. Ltd.


    Proshare Nigeria Pvt. Ltd.

    READ MORE:
    Related News
    SCROLL TO TOP