Nigeria Opens N50bn Green Bond for Subscription at N1,000 Per Unit
The Federal Government of Nigeria (FG), through the Debt Management Office, has offered Green Bonds valued at N50 billion for subscription at N1,000 per unit.
This is contained in a statement by the DMO on Tuesday in Abuja. According to the statement, it is a 5-year Green Bond offer due in 2030, at interest rates of between 18.75 and 19.25 per cent per annum.
“The opening date is June 16, closing date, 18, and settlement date, 23.
“It is offered at N1, 000 per unit, subject to a minimum subscription of N10 billion and in multiples of N1 million thereafter.
“Coupon payment is made half yearly while bullet repayment (principal sum) is on maturity.” The DMO said that proceeds would be used solely to fund green projects as well as assets and expenditures, which aligned with the “Sustainable Bond Framework”.
The DMO said that the Green Bond qualified as securities in which trustees could invest under the Trustees Investment Act. “It qualifies as government securities within the meaning of the Company Income Tax Act and Personal Income Tax Act for tax exemption for pension funds among others.
“It is to be listed on the Nigerian Exchange Limited and FMDQ Securities Exchange Limited,” it said. The DMO urged interested investors to contact the Financial Advosors, Chapel Hills Advisory Limited and Stambic IBTC Capital Limited. #Nigeria Opens N50bn Green Bond for Subscription at N1,000 Per Unit
