Bonds

Zenith Bank, UBA, Others Eurobond Offers Ease Forex Maturity Gaps – Fitch

By Nse Anthony-Uko (Sundiata Finance) – Fitch Ratings, a London based credit rating agency said, Zenith Bank Plc, United Bank for Africa Plc (UBA), Access Bank Plc and Fidelity Bank Plc Eurobond offers marks a small steps toward reducing maturity mismatches between foreign-currency (FC) assets and liabilities. Analysts at Fitch said, the four banks Eurobond offer is a credit positive ...

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Fidelity Bank Sells $400m Bonds With 10.75% Yield

By Nse Anthony-Uko (Sundiata Finance) – Fidelity Bank Plc sold the highest-yielding Eurobond from emerging markets this year, joining a rush for issuance before higher United States interest rates push up borrowing costs. The lender issued $400m of five-year securities with a 10.75 per cent yield on Wednesday, Bloomberg quoted a person familiar with the matter who asked not to ...

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GTBank Prepares $400m Notes Offer As Adefala Joins Board

By Nse Anthony-Uko (Sundiata Finance) – The board of directors of Guaranty Trust Bank (GTBank) Plc has approved and appointed Mrs. Victoria Osondu Adefala as an independent non-executive director even as it the bank informed its holders of $400 million, six per cent notes due 2018 to tender any and all of their securities for purchase by GTBank. In a ...

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Nigeria N100bn Sukuk Finally Debut September 18

As FG Launches Pre-offer Roadshow By Nse Anthony-Uko (Sundiata Finance) – Nigeria will finally make its N100 billion Sukuk bond debut on September 18, 2017, to enable it raise money for infrastructure funding, Debt Management Office (DMO) officials confirmed on Wednesday. The debut Sovereign Sukuk is for N100 billion with a tenor of seven years, and has been certified as ...

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Access Bank Redeems $350m Eurobond

By Nse Anthony-Uko (Sundiata Finance) – Access Bank plc has announced the final redemption of the $350 million Eurobond notes due July 25, 2017. The securities were issued in 2012 by Access Finance B.V, a direct, wholly owned subsidiary of the bank – on the back of an unconditional and irrevocable guarantee of the bank. In October 2016, holders of ...

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Plans N135bn Bond Auction By Nse Anthony-Uko (Sundiata Post) — The Debt Management Office has over the past five months raised N5.15 billion through the Federal Government of Nigeria Savings Bond which it launched in March this year, even as it sets out to raise N135 billion through the FGN Bonds this month. In an offer circular on Tuesday, the ...

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FG To Issue N135bn Bonds Next Week – DMO

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian Government will issue  bonds worth N135 billion July 12 auction, the Debt Management Office (DMO) has said. According to the offer circular obtained from the website of Nigeria’s official debt managers on Wednesday, the DMO said it plans to sell N35 billion of bonds that it will retire in July 2021 at ...

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Dangote Cement Gets Moody’s Ba3, Aaa.Ng Ratings

By Nse Anthony-Uko (Sundiata Finance) – Renowned rating agency, Moody’s Investors Service, has assigned a first-time Ba3 corporate family rating (CFR), Ba3-PD probability of default rating and Aaa.ng national scale rating (NSR) corporate family rating to Dangote Cement Plc. A statement issued on Wednesday by Moody’s revealed that the outlook on the Nigeria-based cement producer’s ratings is stable. Vice President ...

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FG Targets N450bn Revenues From Local Currency Bonds In Q3

By Nse Anthony-Uko ABUJA, (Sundiata Finance) – The Federal Government of Nigeria is planning to sell between N360 billion and N450 billion ($1.48 billion) worth of local currency bonds in the third quarter of the year, according to its bond auction schedule released on Wednesday by the country’s Debt Management Office (DMO). According to the debt office, the bond auctions would consist ...

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