15.75 LA CASERA 18-OCT-2018

15.75 LA CASERA 18-OCT-2018

Series1
Issue Amount (₦’bn)3.00
Tenor (Year)5
Issue DateOct. 18, 2013
Maturity DateOct. 18, 2018
Coupon (%)15.75
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual
Issue RatingBBB+/Agusto, BBB+/GCR
ISINNGLAC2018S16
Use of ProceedsDistribution Infrastructure Enhancement and Bank Loan Repayment
RedemptionPar at maturity
Debt ServiceThe Issuer shall make payments into the Debt Service Reserve Account (“DSRA”) which shall be managed by the Trustee and shall form part of the trust property. The Issuer shall irrevocably authorise the Chief Finance Officer or any officer for the time being in charge of the finances of the Issuer to deduct, as a first charge on the Issuer’s cash flows and to place to the credit of the DSRA such sum or sums from the finances of the Issuer, at the Issuer’s discretion not below one-sixth of the aggregate principal and interest due on the next repayment Date on a monthly basis which sum shall be applied by the Trustee towards the payment of interest and the redemption, at par, of the Bonds provided that the Trustee at its discretion may ask the Issuer to increase the amount being credited to the account if, in its reasonable opinion, the amount being credited to the account is not sufficient to meet interest and principal repayment due on the Bonds at any time
Trustee(s)UBA Trustees Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement