DEBT MANAGEMENT OFFICE NIGERIA UPDATE ON THE DEBT
DEBT MANAGEMENT OFFICE NIGERIA UPDATE ON THE DEBT MANAGEMENT OFFICE’s ACTIVITIES FOR THE FIRST QUARTER OF 2018 BY THE DEBT MANAGEMENT OFFICE AT THE FIRST MEETING OF THE CAPITAL MARKET COMMITTEE, LAGOS APRIL 2018
DEBT MANAGEMENT OFFICE NIGERIA TABLE OF CONTENTS q FGN BOND ISSUANCES. q EUROBOND ISSUANCES.
DEBT MANAGEMENT OFFICE FGN DOMESTIC BOND ISSUANCE: PRIMARY MARKET NIGERIA Table 1: Issuance of FGN Securities for Q 1, 2018 (N’ Billion) Period Q 1 : Types of Bond Total Issuance FGN Bond 253. 68 Savings Bond 0. 583 Total 254. 263 Source The DMO Table 2: Auction Results for FGN Bonds Q 1, 2018 Period Q 1 Description 14. 50% FGN 13. 98% FGN FEB 16. 2884% FGN 13. 53% FGN MAR JUL 2021 2028 MAR 2027 2025 (Re-opening) (New) Amount Offered 110. 00 80. 00 60. 00 30. 00 280. 00 Subscription 113. 49 177. 44 94. 26 25. 21 410. 40 Allotments 82. 35 97. 54 64. 88 8. 91 253. 68 13. 4933 13. 79 13. 4910 13. 5300 - Average Marginal Rates Source: The DMO. Total Subscription Rate (%) 146. 57
DEBT MANAGEMENT OFFICE EUROBOND ISSUANCES NIGERIA Nigeria Accessed the International Capital Market (ICM) in Q 1, 2018. The Federal Republic of Nigeria issued a Dual Tranche USD 2. 5 billion (7. 143% US$1. 25 BN FEB 2030 and 7. 696% US$1. 25 BN FEB 2038) on February 23, 2018. The Bonds have been listed on the London Stock Exchange and will also be listed on the Nigerian Stock Exchange and FMDQ OTC Securities Exchange. Issuance Statistics Issue Amount: Tenor: Coupon/Yield: Issue Date: Maturity Date: Coupon Payments: Format: Rating: USD 1. 25 billion 12 years 20 years 7. 143% p. a. 7. 696% p. a. February 23, 2018 February 23, 2030 February 27, 2038 February & August Rule 144/Reg. S B stable (S&P), B+ Neg (Fitch), B 2 stable (Moody’s) Order Book at Lunch: USD 5. 4 billion or 432% Subscription USD 5. 9 billion or 472% subscription 4
DEBT MANAGEMENT OFFICE NIGERIA Thank you 5
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