14.50 EKITI 09-DEC-2018

Series1
Issue Amount (₦’bn)20.00
Tenor (Year)7
Issue DateDec. 9, 2011
Maturity DateDec. 9, 2018
Coupon (%)14.50
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual
Issue RatingUnder Review/Agusto; A-,Expired/GCR
ISINNGEKI2018S17
Use of ProceedsLocal Loan Refinancing, General Construction and Reconstruction
RedemptionPar at maturity
Debt ServiceThe Bond will also be fully backed by an Irrevocable Standing Payment Order (“ISPO”) issued by the State to the Accountant-General of the Federation. The ISPO authorises direct deductions from the State’s monthly Federation Allocation sums required to service the Bond
TrusteesSkye Trustees Limited, UBA Trustees Limited and Union Trustees Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement