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FGN Sukuk 2020 Offer For Subscription

 

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The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria has opened the Offer for Subscription through FGN Roads Sukuk Company 1 Plc (FGN RSC1) ₦150bn 7-year IJARAH (LEASE) SUKUK due June 2027 at 11.20% p.a. The offer to subscribe for the FGN Sovereign Ijarah Sukuk Bond will close on Tuesday, June 2, 2020 and Settlement date is Tuesday, June 9, 2020.

SUMMARY OF OFFER

ISSUER Federal Government of Nigeria
THE OFFER Offer For Subscription of FGN Sovereign Ijarah (Lease) Sukuk Bond
TENOR 7 Years
INTEREST RATE   11.20%
INTEREST PAYMENT Payable Half yearly
REDEMPTION Bullet repayment at maturity date
UNIT OF SALE ₦1,000 per Unit
MINIMUM SUBSCRIPTION ₦10,000 in Multiples of ₦1,000
OPENING DATE May 21, 2020
CLOSING DATE June 2, 2020
SETTLEMENT DATE June 9, 2020
SECURITY The Bond is backed by the full faith and credit of the Federal Government of Nigeria
LISTING Nigerian Stock Exchange (NSE)
USE OF PROCEEDS Proceeds will be used solely for the construction and rehabilitation of key roads across the six geopolitical zones of the country.

Kindly note that the cut-off time for submission of forms is 12 Noon Tuesday, June 2,2020.

For subscription, please contact sales@chapelhilldenham.com or st@chapelhilldenham.com. You can also contact us on our customer care line 01-2799561-2.

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