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Domestic bonds: Nigeria, FGN Bonds 18.5% 21feb2031, NGN (18.50% FGN FEB 2031, NGFG202031S4)

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Senior Unsecured

Status
Outstanding
Amount
1,155,238,020,000 NGN
Placement
***
Redemption (put/call option)
*** (-)
ACI on
Country of risk
Nigeria
Current coupon
***%
Price
-
Yield / Duration
-
Calculate in two clicks! yield, duration and other parameters
Calculate in two clicks! yield, duration and other parameters
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  • Placement amount
    1,155,238,020,000 NGN
  • Outstanding amount
    1,155,238,020,000 NGN
  • USD equivalent
    824,898,976.05 USD
  • Face value
    1,000 NGN
  • ISIN
    NGFG202031S4
  • FIGI
    BBG01LGYVGK8
  • Ticker
    NIGB 18.5 02/21/31 7Y

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Issue information

Profile
Nigeria has the second largest economy in sub-Saharan Africa. Overall, despite the negative effects of the global financial crisis in recent periods, Nigeria’s economy has continued to experience significant GDP growth. Real GDP grew 7.53 per ...
Nigeria has the second largest economy in sub-Saharan Africa. Overall, despite the negative effects of the global financial crisis in recent periods, Nigeria’s economy has continued to experience significant GDP growth.
Real GDP grew 7.53 per cent. in the first half of 2010, 6.96 per cent. in 2009, 5.98 per cent. in 2008 and 6.45 per cent. in 2007. This growth was largely attributable to the continued growth in non-oil GDP, which grew 8.32 per cent. in 2009, 8.95 per cent. in 2008 and 9.52 per cent. in 2007. Overall GDP growth for 2010 is estimated at 7.85 per cent. The Government plans to reinforce economic growth in future periods by encouraging non-oil private sector growth, which it plans to facilitate through the implementation of its Vision 20:2020 plan.
Public debt management is considered to be strategic in Nigeria, and became widely accepted as such when Nigeria’s debt became unsustainable and a constraint on economic growth in the 1990s and early 2000s. In recognition of this, the Government established the DMO to serve as a central body for managing public debt. According to the DMO, as at 31 December 2010, Nigeria’s external debt was US$4.8 billion (provisional), of which US$2.8 billon (provisional) was owed by the Federal Government and US$1.9 billion (provisional) was owed by State Governments and guaranteed by the Federal Government. Further, the Government had N4.5 trillion (provisional), approximately US$29.8 billion, in domestic debt outstanding as at 31 December 2010. Additionally, in December 2010, the Federal Government entered into a US$899.5 million credit facility agreement with the Export-Import Bank of China to fund certain infrastructure projects. Drawdowns under the facility are tied to project completion milestones and as at 31 December 2010 no amounts had been drawn.
  • Issuer
    Go to the issuer page
    Nigeria
  • Full borrower / issuer name
    Nigeria
  • Sector
    Sovereign
Volume
  • Placement amount
    1,155,238,020,000 NGN
  • Outstanding amount
    1,155,238,020,000 NGN
  • Outstanding face value amount
    1,155,238,020,000 NGN
  • USD equivalent
    824,898,976 USD
Face value
  • Face value
    1,000 NGN
  • Outstanding face value
    *** NGN
  • Increment
    *** NGN
Listing
  • Listing
    ***

Cash flow parameters

  • Reference rate
    ***
  • Coupon Rate
    ***
  • Day count convention
    ***
  • Interest Accrual Date
    ***
  • Coupon frequency
    *** time(s) per year
  • Payment currency
    ***
  • Maturity date
    ***

Early redemption terms

***

Auctions and additional placements

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Identifiers

  • State registration number
    18.50% FGN FEB 2031
  • ISIN
    NGFG202031S4
  • CUSIP
    ***
  • CUSIP 144A
    ***
  • FIGI
    BBG01LGYVGK8
  • Ticker
    NIGB 18.5 02/21/31 7Y
  • Type of security by CBR
    ***

Ratings

Bond classification

  • Senior Unsecured
  • Registered
  • FGN Bonds
  • Coupon bonds
  • Amortization
  • Callable
  • CDO
  • Convertible
  • Dual currency bonds
  • Variable rate
  • For qualified investors (CIS region)
  • Foreign bonds
  • Green bonds
  • Guaranteed
  • Inflation-linked principal
  • Supranational bond issues
  • Inflation-linked coupon
  • Mortgage bonds
  • Perpetual
  • Payment-in-kind
  • Non-Marketable Securities
  • Redemption Linked
  • Restructuring
  • Retail bonds
  • Covered
  • Securitization
  • Structured product
  • Commercial Bonds
  • Subordinated
  • Sukuk
  • Trace-eligible

Restructuring

***

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