Thursday,
May 21, 2020 / 10:12 AM / By DMO / Header Image
Credit: Forbes Middle East

Pursuant to the Local Loans (Registered Stock and
Securities) Act, CAP. L17, LFN 2004 On the authority of the Federal Government
of Nigeria FGN Roads Sukuk Company 1 Plc (FGN RSC1) Offers for Subscription
through FBNQuest Merchant Bank Limited & Lotus Financial Services Limited
(the "Financial Advisers") who are authorized to receive applications for up to
N150,000,000,000 7-Year Ijarah Sukuk due June 2027 Rental Rate: 11.200% Per
Annum
Opening
Date: May 21, 2020
Closing
Date: June 2, 2020
Settlement
Date: June 9, 2020
Summary of the Offer
Instrument Type
Ijarah
(Lease) Sukuk
Issuer
FGN
Roads Sukuk Company 1 Plc. on behalf of the Federal Government of Nigeria.
Units of Sale
N1,000
per unit subject to a minimum Subscription of N10,000 and in multiples of
N1,000 thereafter.
Rental Payment
Payable
Half Yearly.
Redemption
Bullet
repayment on the date of maturity.

Use Of Proceeds
Proceeds
will be used solely for the construction and rehabilitation of key roads across
the six geopolitical zones of the country.
Status
- Qualifies as securities in which trustees can invest under the Trustee
Investment Act.
- 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.
- To
be listed on The Nigerian Stock Exchange and FMDQ OTC Securities Exchange.
- Classified as Liquid Asset by the Central Bank of Nigeria.
- Certified by the Financial Regulatory Advisory Council of Experts (FRACE) of the
Central Bank of Nigeria.
Security
Backed
by the full faith and credit of the Federal Government of Nigeria.
Interested
Investors Should Contact The Financial Advisers To The Issue
FBNQuest Merchant Bank Ltd.
10,
Keffi Street
Off
Awolowo Road
S.W.
Ikoyi, Lagos
Tel 1:
+234-1-270 2290-4
Lotus Financial Services Ltd.
1b, Udi
Street
Osborne
Foreshore Estate
Osborne
Road, Ikoyi, Lagos
Tel 1:
+234-1-291 4626
Or
download the Application Form HERE
Receiving Banks
- First
Bank of Nigeria Ltd.
- Stanbic
IBTC Bank Plc.
- Jaiz
Bank Plc.
- Taj
Bank Ltd.
- Sterling
Bank Plc.
- Zenith
Bank Plc.
- Unity
Bank Plc.
Placement Agents
- Access
Bank Plc.
- Citi
Bank Nigeria Ltd.
- Coronation
Merchant Bank Ltd.
- Ecobank
Nigeria Ltd.
- FBNQuest
Merchant Bank Ltd
- First
Bank of Nigeria Ltd.
- First
City Monument Bank Plc.
- FSDH
Merchant Bank Ltd.
- Guaranty
Trust Bank Plc.
- Stanbic
IBTC Bank Plc.
- Standard
Chartered Bank Nigeria Ltd.
- United
Bank for Africa Plc.
- Zenith
Bank Plc.
- And
Registered Stockbroking Firms

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