Bonds & Fixed Income | |
Bonds & Fixed Income | |
1069 VIEWS | |
![]() | |
PROSHARE | |
PROSHARE |
Monday,
October 07, 2019 / 11:19 AM / DMO / Header Image Credit: livemint
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 October 16, 2021: 11.244% per annum
3-Year FGN Savings Bond due October 16, 2022: 12.244% per annum
Opening Date:
October 7, 2019
Closing
Date: October 11, 2019
Settlement
Date: October 16, 2019
Coupon Payment
Dates: January
16, April 16, July 16, October 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 mul4iples 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.
Related News
1.
Sanwo-olu
Launches Financial Centre For Sustainability In Lagos, FMDQ To Serve As
Secretariat
2.
Secondary Market
Volumes Increase As Investors Scurry To Reinvest
3.
Interswitch
Limited Bond Issue Coming Soon
4.
P and ID Versus
Nigeria... How The Markets Have Responded
5.
Treasury Bills
Auction Scheduled For October 2nd, 2019
6.
The Bulls
Re-Emerge As Average Yield On T-Bills Dips To 13.3% WoW On System Liquidity
Boost
7.
Investors Look
to Secondary Market to Fill Demand, Treasury Bills Close Week Bullish
8.
CBN Sells
364-Day OMO T-Bills On A 46.00% Pro-rata Basis, Cuts Rates By 2bps
9.
Summary of FGN
Bond Auction Results For September 2019
10.
September 2019
FGN Bond Auction Oversubscribed
11.
DMO Struggles to
Raise Long Term Debt for a Second Consecutive Auction
12.
FMDQ Securities
Depository Goes Live, To Enhance Market Efficiency
13.
Bearish Momentum
Sustained As Average T-Bills Yield Advances 23bps WoW To 13.6%