FG offers N10.7bn Green Bonds at 13.48%

The Federal Government on Monday offered for subscription by auction N10.69 billion worth of sovereign green bonds, the Debt Management Office (DMO) said. It stated that the five-year tenor bond would mature in 2022 at a coupon rate of 13.48 per cent per annum.

The DMO circular noted that “proceeds from the Green Bond would be used to finance projects in the 2017 Appropriation Act that were certified as green because of their positive effects to the environment.

Particulars of the Programme

Issuer: The Federal Government of Nigeria

Programme Description: 5 Year 13.48% Fixed Rate Bonds due 2022

Series Number: I

Description of the Notes: Fixed Rate Notes

Aggregate Nominal Amount: 10,690,000,000.00

Tenor: 5 years

Specified Currency or Currencies: Nigerian Naira

Par Value: N1,000 (One Thousand Naira) per Note Unit

Units of Sale: N1,000.00 per unit subject to a minimum Subscription of N10,000,000.00 and in multiples of N1,000,000.00 thereafter

Financial Adviser/Book Runner: Chapel Hill Denham Advisory Limited

Security: Guaranteed by the full faith and credit of the Federal Government of Nigeria 

Issue Price: At par. N1,000 (One Thousand Naira) per Note Unit

Method of Issue: Offer for Subscription

Opening Date: December 18, 2017

Closing Date: December 20, 2017

Settlement Date: December 22, 2017 (T+2)

Download the Bond prospectus and offer circular via the links below:

Bond Prospectus

Offer Circular

Contact our dealing desk @ 01-6311667 or send a mail to research@zedcrestcapital.com for more details.


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