…A total of $2 billion of the bond will be issued in tranches
…The Offer disallows cash deposits, while subscribers must provide all Know-Your-Customer (KYC) requirements
TUE AUG 20 2024-theGBJournal|Nigeria officially issued its first domestic dollar Monday, a $500 million domestic dollar bond priced at 9.7% and set to mature in 2029.
A total of $2 billion of the bond will be issued in tranches and its proceeds will be channeled into crucial sectors of the economy approved by the President,” says Finance Minister, Wale Edun.
The minimum investable amount is $10,000, with additional increments of $1,000 thereafter.
The Offer disallows cash deposits, while subscribers must provide all Know-Your-Customer (KYC) requirements, according to the Debt Management Office (DMO).
The Bond will listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange, providing liquidity and accessibility to investors.
The Lead Issuing House is United Capital alongside Meristem Capital Limited and Stanbic IBTC Capital Limited.
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