May 30, 2018/Cordros Capital
Following the approval by the Securities and Exchange Commission (“SEC”) to commence Book Building, we are pleased to present this unique Investment Opportunity in the C&I Leasing Plc (“C&I Leasing”) 5-Year Fixed Rate Senior Secured Bond Issuance due 2023. Book Building for the Bond Issuance officially opened on Monday 21st May, 2018 and is scheduled to close on Monday 4th June, 2018.
Please see below indicative terms of the Offer:
| Issuer: | C&I Leasing Plc | |||
| Programme Size: | N20 billion | |||
| Series Number: | 1 | |||
| Series Issue Size: | N7 billion | |||
| Tenor: | 5years | |||
| Coupon Basis: | Fixed rate, amortizing | |||
| Coupon Frequency: | Semi-annual | |||
| Coupon | To be determined via Book Building Process | |||
| Minimum Range: | 300bps above the equivalent FGN Bond yield, currently trading at 13.54% | |||
| Offer Open: | Monday 21 May 2018 | |||
| Offer Close: | Monday 4 June 2018 | |||
| Issue Rating: | A- by GCR A- by Agusto & Co | |||
| Issuer Rating: | BBB by GCR Bbb Agusto & Co | |||
| Listing: | FMDQ-OTC PLC | |||
| Tax Consideration: | Free and clear of Withholding, state and Federal Income and Capital Gains Taxes with no deductions whatsoever being made at source | |||
The following documents have been uploaded here for your appraisal of the investment opportunity:
- Shelf Prospectus;
- Ratings Reports (Issuer & Issue) by Agusto & Co and GCR;
- Approved Series 1 Pricing Supplement;
- Commitment Form;
- Investment Deck;
- PenCom Compliance Certificate;
- SEC approval to commence BookBuild;
We look forward to your participation in the issue.
