15.00 NASARAWA 06-JAN-2021

Issue Amount (₦’bn)5.00
Tenor (Year)7
Issue DateJan. 6, 2014
Maturity DateJan. 6, 2021
Coupon (%)15.00
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencySemi-annual
Issue RatingA-/GCR
Use of ProceedsEducation and Market Development Project
RedemptionPar at maturity
Debt ServiceThe Source of repayment of the obligations of the State in relation to the Bonds is by way of an Irrevocable Standing Payment Order (“ISPO”) issued by the Office of the Accountant-General of the Federation in favour of the Trustees, as a first line charge upon and payable out of the statutory allocation of the State from the Federal Account Allocation Committee (FAAC). Equal deductions of ₦101.64 million shall be made from the State’s statutory allocation and transferred to the Series 1 Sinking Fund Account held by the Trustees for a period of 84 months with effect from December 2013
TrusteesStanbic IBTC Trustees Limited and Mainstreet Bank Trustees and Asset Management Company Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement