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|
|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.