14.75 OSUN II 10-OCT-2020

14.75 OSUN II 10-OCT-2020

Series2
Issue Amount (₦’bn)11.40
Tenor (Year)7
Issue DateOct. 10, 2013
Maturity DateOct. 10, 2020
Coupon (%)14.75
Yield at Issue (%)N/A
Issue Price (₦)At par
CurrencyNigerian Naira
Coupon FrequencyQuarterly
Issue RatingBBB-/Agusto
ISINNGOSB2019S14
Use of ProceedsTo Finance School Construction
RedemptionPar at maturity
Debt ServiceMonthly deductions of ₦164.93 million from August 2013 to July 2014 and ₦305.68 million from August 2014 to July 2020 from the State’s share of the statutory allocation from the Federation Account into the Sinking Fund
TrusteesSterling Asset Management and Trustees Limited and Skye Trustees Limited
Tax ConsiderationExempted from Nigerian Tax
Offer DocumentPricing Supplement