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.
