14.00 DELTA 30-SEP-2018

Series1
Issue Amount (₦’bn)50.00
Tenor (Year)7
Issue DateSep. 30, 2011
Maturity DateSep. 30, 2018
Coupon (%)14.00
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencyCoupon is payable semi-annually in arrears in the 6th and 12th month from the Allotment Date
Issue RatingA/Agusto; A+/GCR
ISINNGDEL2018S11
Use of ProceedsTo Finance the Rehabilitation of Water Schemes and Roads
RedemptionPar at maturity
Debt ServiceA sinking fund will be created in accordance with the Provision(s) of the Delta State Bond Law as passed by the State House of Assembly and the Investment and Securities Act No. 29 of 2007. The Sinking Fund shall be principally funded from the pledged revenues by way of an Irrevocable Standing Payment Order (“ISPO”) by Delta State Government (DTSG) to the Accountant-General of the Federation authorizing a monthly deduction of ₦1.10 billion from its statutory allocations during the tenor of the Series 1 Bonds repayment
TrusteesAfribank Trustees and Asset Management Company Limited, ALM Trustees Limited, First Trustees Limited, Skye Trustees Limited, UBA Trustees Limited and Union Trustees Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement