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Bonds & Fixed Income | |
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Monday, January 07, 2019 08:10AM / 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 January 16, 2021: 12.125% per annum
3-Year FGN
Savings Bond due January 16, 2022: 13.125% per annum
Opening
Date:
January
7, 2019
Closing
Date:
January 11, 2019
Settlement
Date:
January 16, 2019
Coupon Payment
Dates:
April 16, July 16, October 16, January 16
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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