14.50 EKITI II 31-DEC-2020

Issue Amount (₦’bn)5.00
Tenor (Year)7
Issue DateDec. 31, 2013
Maturity DateDec. 31, 2020
Coupon (%)14.50
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual
Issue RatingUnder Review/Agusto
Use of ProceedsBridge and Road Construction
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, ALM Consulting Limited and First Trustees Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentN/A