Culled—Proshare
November 23, 2018
By ASAM Research
STANBIC IBTC BANK PLC – OFFER FOR SUBSCRIPTION OF N30 BILLION SERIES 1 SENIOR UNSECURED FIXED RATE NOTES DUE 2023 UNDER THE N150 BILLION STRUCTURED NOTE PROGRAMME
The Series 1 Bond issue of up to N30billion by Stanbic IBTC Bank Plc under the bank’s recently renewed N150billion Structured Note Programme is imminent.
The Bank is a subsidiary of Stanbic IBTC Holdings Plc, and a member of the Standard Bank Group. Stanbic IBTC Holdings offers a wide range of financial services which include, but are not limited to personal and commercial banking services, trade finance, stockbroking, trusteeship, custodial services, pension and non-pension asset management and insurance brokerage services. Stanbic IBTC offers its clients a wide range of commercial banking products through over 177 branches spread across every state in Nigeria, as well as, via a range of self-service online and physical channels.
The Bank is rated AAA by Fitch, a rating equivalent to the national scale ratings of the Federal Government of Nigeria, and AA- by GCR.
Stanbic IBTC has a long standing relationship with the debt capital markets, having issued 10 year fixed and floating rate bonds in 2014. The Bank is also the only corporate entity in Nigeria to have registered, and issued multi-currency commercial paper notes in Nigeria.
The offer opened on Wednesday 21st November 2018 and will close on Wednesday, 28th November 2018.
All interested clients are expected to have funded their CMO’s bank account; not later than 10.00am on Wednesday, November 28th, 2018.
Please find below for your perusal a summary of the terms of the offer:
Source: Arthur Stevens Asset Management Research
The under listed documents are available from CMO’s for guidance:
- Pencom Compliance Certificate
- Issuer Rating Reports
iii. Issue Rating Reports
- Draft Pricing Supplement
We look forward to your participation in the Stanbic IBTC Bank Plc Bond Issuance.
For further information; kindly call your investment advisor, CMO or contact Arthur Stevens Asset Management Ltd via Kemi (08086019771) or Titi (08059403028) or send a request via info@arthursteven.com
