0.00 &16.00 LCRM 09-DEC-2016

Series1
Issue Amount (₦’bn)112.22
Tenor (Year)5
Issue DateDec. 9, 2011
Maturity DateDec. 9, 2016
Coupon (%)0.00/16.00
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual in arrears on June 8 and December 8 after the end of the 3-year zero coupon period of the Bond
Issue RatingN/A
Use of ProceedsThe estimated net issue proceeds from Tranche I would be used to settle the Local Contractors’ Debts
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); and will be funded by the Federal Government of Nigeria (FGN) from annual budgetary allocations
TrusteesGreenwich Nominees Limited and Skye Trustees Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement