Culled—Proshare
December 7, 2018/DMO
Pursuant to the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 FBNQUEST Merchant Bank Limited & Lotus Financial Services Limited (the “Financial Advisers”) on the authority of the Federal Government of Nigeria Offers for Subscription through FGN Roads Sukuk Company 1 Plc (FGN RSC1) and is authorized to receive applications for the N100,000,000,000 7-Year Ijarah Sukuk due 2025
Rental Rate: 15.743%
Opening Date: December 6, 2018
Closing Date: December 17, 2018
Settlement Date: December 28, 2018
Summary of The Offer
Instrument Type
Ijarah (Lease) Sukuk
Issuer
FGN Roads Sukuk Company 1 Plc. on behalf of the Federal Government of Nigeria.
Units of Sale
N1,000 per unit subject to a minimum Subscription of N10,000 and in multiples of N1,000 thereafter.
Rental Payment
Payable Half Yearly.
Redemption
Bullet repayment on the date of maturity.
Use of Proceeds
Proceeds will be used solely for the construction and rehabilitation of key roads across the six geopolitical zones of the country.
Status
- Qualifies as securities in which trustees can invest under the Trustee Investment Act.
- Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
- To be listed on The Nigerian Stock Exchange and FMDQ OTC Securities Exchange.
- Classified as Liquid Asset by the Central Bank of Nigeria.
- Certified by the Financial Regulatory Advisory Council of Experts (FRACE) of the Central Bank of Nigeria.
Security
Backed by the full faith and credit of the Federal Government of Nigeria.
Download Here – Sovereign Sukuk Subscription Form
