11.25 AFDB 1-FEB-2021

11.25 AFDB 1-FEB-2021

Series1
Issue Amount (₦’bn)12.95
Tenor (Year)7
Issue DateJul. 10, 2014
Maturity DateFeb. 1, 2021
Coupon (%)11.25
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual in arrears
Issue RatingAaa/Moody’s; AAA/S&P
ISINNGADBB2021S9
Use of ProceedsThe net proceeds of the issue of each Series of Notes will be incorporated in the ordinary capital resources of the bank and used in accordance with articles 1 and 2 of the Agreement of the African Development Bank
RedemptionPar at maturity
Debt ServiceA Sinking Fund shall be created in accordance with the provisions of the Programme Trust Deed and applicable Supplemental Trust Deed(s). The Sinking Fund will be funded by the Federal Government of Nigeria (FGN) from annual budgetary allocations
TrusteesN/A
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement