FGN BOND- Federal Government of Nigeria up to N15bn Series II Green Bond offer
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Dear Investor
Stanbic IBTC Capital Limited is delighted to notify you that the Federal Government of Nigeria N15 Billion Series II Green Bond is now open and expected to close on Monday 10 June 2019.
Please find a summary of the proposed Terms of the Offer set out below:
| Issuer: | Federal Government of Nigeria |
| Issuing Houses: | Capital Assets Limited; Chapel Hill Denham Advisory Limited; Rand Merchant Bank Nigeria Limited; Stanbic IBTC Capital Limited |
| Issue Size: | N15 billion |
| Coupon Band: | 14.40% – 14.50% |
| Mode of Issuance: | Book Build |
| Books open: | 3 June 2019 |
| Books close: | 10 June 2019 |
| Par Value: | N1,000 |
| Tenor: | Seven (7) Years |
| Repayment: | Bullet sum at maturity |
| Use of Proceeds: | Green Projects as identified by the Inter-Ministerial Committee on Climate Change, approved in the 2018 Appropriation Act, and assessed by Moody’s Investors Service |
| Rating: | GB1 (Excellent) by Moody’s Investors Service |
| Security: | Backed by the full faith and credit of the FGN |
| Status: | Ranks pari passu with other FGN Debt obligations |
| Tax Considerations | Free and Clear of Withholding Tax and other tax related deductions |
| Issue Date: | 13 June 2019 |
| Maturity Date: | [12] June 2026 |