0.00&16.50 LCRM III 06-JUL-2017

Issue Amount (₦’bn)66.49
Tenor (Year)5
Issue DateJul. 6, 2012
Maturity DateJul. 6, 2017
Coupon (%)0.00/16.50
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual in arrears on July 5 and December 5 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 III 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