Bonds

FMDQ Achieves N130trn Turnover In 11 Months

10 dealing members account for N93.36trn By Nse Anthony-Uko (Sundiata Finance) — FMDQ OTC Securities Exchange recorded a turnover of N130.17 trillion in the first 11 months of 2017. With average exchange rate of N317.24 per dollar, the 11-month turnover stood at $410.32 billion. Average daily turnover stood at N565.96 billion or $1.78 billion during the 230-day trading session The ...

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NSE Lists FGN $300m Diaspora Bond, $3bn Eurobonds On Platform

FG restates commitment to reduce cost of debt By Nse Anthony-Uko (Sundiata Post) – The Nigerian Stock Exchange (NSE) has admitted the FGN 30 year $1.5 billion Euro Bond, FGN 10 year $1.5 billion Euro Bond and FGN five year $300 million Diaspora Bond on its daily official list of the Exchange. Also, the Debt Management Office (DMO) stated that ...

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FG Issues Last Savings Bond For 2017

By Nse Anthony-Uko ABUJA, (Sundiata Finance) — The federal government savings bonds which debuted in March, 2017 has opened its last leg of subscription for this year which will close December 8, 2017. This subscription comes up once every month and it has traded in the past eight months with a total of N6.694 billion been raised so far. The ...

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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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