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FGN SOVEREIGN SUKUK BOND OFFER

Dear Esteemed Client,

The Federal Government of Nigeria has begun the sale of its second tranche of the 7 year NGN100 billion Ijara (lease) sukuk bond due 2025 at an annual rental rate of 15.743%. Rentals will be paid in two equal instalments annually, while purchase price representing principal investment will be paid to investors at the end of the 7th year of the sukuk.

Sukuk is an investment certificate that represents ownership interest of the holder in an asset or pool of assets.

The Offer for Subscription opened on Thursday, December 06, 2018 and closes on Monday December 17, 2018. We highlight below the details of the FGN Sovereign Ijarah Sukuk that the DMO released to the public:

IssuerFGN Roads Sukuk Company on behalf of the Federal Government of Nigeria.
TrancheII
Programme SizeUp to NGN100 billion
Tenor7 Years
Rental rate15.743%
Use of proceedsConstruction and rehabilitation of key roads across the six geopolitical zones of the country.
Status1. Qualifies as securities in which trustees can investunder the Trustee Investment Act.2. Qualifies as Government securities within themeaning of Company Income Tax Act (“CITA”)and Personal Income Tax Act (“PITA”) for TaxExemption for Pension Funds, amongst otherinvestors.3. To be listed on The Nigerian Stock Exchange andFMDQ OTC Securities Exchange.4. Classified as Liquid Asset by the Central Bank ofNigeria.5. Certified by the Financial Regulatory AdvisoryCouncil of Experts (FRACE) of the Central Bank ofNigeria.
FormRegistered

To participate, kindly send an email instruction authorizing us to bid on your behalf by indicating the tenor and the amount, then credit our account with the required amount as the case may be.

Also submit the completed form to MBC Securities before the close of business on Monday December 17, 2018. 

Please see below our bank details.

GTBMBC SECURITIES LIMITED0012200376
FIRST BANK PLCMBC SECURITIES LIMITED2005543742
ECOBANK PLCMBC SECURITIES LIMITED2562036993
ZENITH BANKMBC SECURITIES LIMITED1011736779

 For further enquiries, kindly reach:

Obianuju Egwuatu- oegwuatu@mbcgroup.com.ng/08137475868

Yussuf Apena- yapena@mbcgroup.com.ng/08062070332  

Vivian Onije- vonije@mbcgroup.com.ng/08022307996  

Thank you. 

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