Bonds

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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FG Offers New Savings Bond With 13.386, 14.386% Interest

By Nse Anthony-Uko (Sundiata Finance) – The Debt Management Office (DMO), said subscribers will get an interest rate of 13.386 per cent on the two-year savings bond and 14.386 per cent on the three-year savings bonds which opened on Monday on Monday The circular which was released on the office’s official website showed that the two-year bond will be due on ...

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DMO Raises N99bn Through Bonds As FAAC Allocation Eases Liquidity

By Nse Anthony-Uko (Sundiata Finance) – The Federal Government through the Debt Management Office last week raised N99.26 billion through bond auction even as interbank lending rates eased on inflow of funds from Federation Account Allocation Committee (FAAC) disbursements. There had been an inflow of N275.2 billion towards the end of last week, easing up the liquidity crunch in the ...

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Nigeria’s Maiden Sovereign Sukuk Debuts Next Week – DMO

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — The Debt Management Office, DMO, on Wednesday, confirmed that arrangement has been concluded for the issuance of the first sovereign sukuk, otherwise known as Islamic Bond or non-interest bond, next week. The sovereign sukuk valued at N100 billion followed a successful issuance of first Diaspora Bond by the DMO in the United States ...

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