FBNQuest Mechant Bank Limited & Lotus Financial Services Limited on the authority of The Debt Management of Nigeria on behalf of the Federal Government Of Nigeria offers for subscription by Primary Auction and is authorized to receive applications for
N150,000,000,000 – Rental Rate of 11.20% p.a IJORA SUKUK FGN JUNE 2027 (7-Yr Opening)
Opening Date: May 21, 2020
Closing Date: June 2, 2020
Settlement Date: June 9, 2020
SUMMARY OF THE OFFER
INSTRUMENT TYPE: Ijarah (Lease) Sukuk
ISSUER: FGN Roads Sukuk Company 1 Plc. on behalf of the Federal Government of Nigeria.
UNITS OF SALE: N1,000 per unit subject to a minimum Subscription of N10,000 and in multiples of N1,000 thereafter.
RENTAL PAYMENT: Payable Half Yearly.
REDEMPTION: Bullet repayment on the date of maturity
USE OF PROCEEDS: Proceeds will be used solely for the construction and rehabilitation of key roads across the six geopolitical zones of the country.
1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.
2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
3. To be listed on The Nigerian Stock Exchange and FMDQ OTC Securities Exchange.
4. Classified as Liquid Asset by the Central Bank of Nigeria.
5. Certified by the Financial Regulatory Advisory Council of Experts (FRACE) of the Central Bank of Nigeria
SECURITY: Backed by the full faith and credit of the Federal Government of Nigeria.
TRW Stockbrokers Limited
Corporate Office: 62/64 Campbell Street (Kajola House)
4th Floor Lagos Island Lagos .