It’s Here: Details of The FGN Savings Bond That Will Be Sold This Week

Nairametrics| The Debt Management Office has released details of its debut FGN Saving Bonds. The Bond is expected to start trading today, March 13, 2016.

Here are details of the bond offering

Federal Government National Savings Bond Offer Circular

2-Year FGN Savings Bond due March 22, 2019: 13.01%

Opening Date: March 13, 2017

Closing Date: March 17, 2017

Settlement Date: March 22, 2017

Coupon: 13.01%

ISSUER: Federal Government of Nigeria (“FGN”)

UNITS OF SALE: N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.

INTEREST PAYMENT: Payable Quarterly

REDEMPTION: Bullet repayment on the maturity date

See circular below;

[gview file=”https://cdn.nairametrics.com/wp-content/uploads/2017/03/FGNSB-Offer-for-Subscription16080.pdf”]