10.00 LAGOS 19-APR-2017

Issue Amount (₦’bn)57.00
Tenor (Year)7
Issue DateApr. 19, 2010
Maturity DateApr. 19, 2017
Coupon (%)10.00
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual
Issue RatingA+/Agusto; Under Review/GCR
Use of ProceedsTo Finance Ongoing Infrastructural Projects
RedemptionPar at maturity
Debt ServiceA Sinking Fund will be created in accordance with the provisions of the Bond Law and the Investment and Securities Act (“ISA”). The Sinking Fund shall be funded from the Consolidated Debt Service Account (“CDSA”). The deduction in respect of the Sinking Fund will be a first charge with full commitment on the CDSA of the State. The CDSA is funded on a regular basis by 15% of the State’s monthly Internally Generated Revenues (IGR)
TrusteesFirst Trustees Limited, Skye Trustees Limited, UBA Trustees Limited and Union Trustees Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement