Now Open- 10-years FGN Sukuk Bond Offer due 2033 at 15.75% Per Annum
Dear Esteemed Investor,
We are pleased to inform you that the Debt Management Office (DMO) on behalf of the Federal Government will be issuing a 10-years FGN Sovereign Ijarah Sukuk Due 2033.
Sukuk are investment certificates or notes of equal value which evidence undivided interest and/or ownership of tangible assets or usufructs in compliance with Shari’ah principles. The Sukuk issuance will be managed by The FGN Roads Sukuk Company 1 PLC which is a special purpose vehicle set up by the federal government with the sole purpose of raising capital from the domestic capital markets to finance the development of road infrastructure in Nigeria.
Following its incorporation in 2017, the FGN Roads Sukuk Company 1 PLC has raised N200 billion (N100 billion each in 2017 and 2018) from the domestic capital markets.
The subscription offer closes on Wednesday October 11, 2023, and the settlement date is Friday October 13 2023 for the investing public.
Please see details of the Offer below:
Issuer | FGN Roads Sukuk Company 1 Plc on behalf of the Federal Government of Nigeria (FGN) |
| Instrument | Ijarah (Lease) Sukuk Due 2033 |
| Tenor | 10-years |
| Issue Size | ₦150.0 billion |
| Unit of Issue | ₦1,000 Per Unit |
| Minimum Subscription | ₦10,000 (i.e. 10 units @₦1,000/unit) and in multiples of ₦1,000 (1 unit) thereafter |
| Rental Rate | 15.75% per annum |
| Frequency of rental payment | payable half yearly. |
| Use of Proceeds | Proceeds will be used solely for the construction and rehabilitation of key roads across the six geopolitical zones of the country. |
| Redemption | Bullet repayment at maturity |
| Security | Backed by the full faith and credit of the Federal Government of Nigeria. |
| Clearing System | CSCS |
| Listing | NSE and FMDQ |
| Paying Agent | Central Bank of Nigeria |
To invest in the Sukuk bond, download the subscription form here.
For further enquiries, kindly reach:
Ismail – ilawal@mbcgroup.com.ng /08079214500
Oge – oigboanu@mbcgroup.com.ng /08084725580
Thank you.
