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Flour Mills of Nigeria Bonds, 22% 30may2029, NGN (2) (22.00% FMN MAY 2029, NGFMN2029S22)

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Domestic bonds, Senior Unsecured

Status
Outstanding
Amount
34,500,000,000 NGN
Placement
***
Redemption (put/call option)
*** (-)
ACI
Country of risk
Nigeria
Current coupon
***%
Price
Yield / Duration
  • Placement amount
    46,000,000,000 NGN
  • Outstanding amount
    46,000,000,000 NGN
  • USD equivalent
    25,421,690.58 USD
  • Face value
    1,000 NGN
  • ISIN
    NGFMN2029S22
  • CFI
    DBFUFR

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Issue information

Profile
Flour Mills of Nigeria Plc was incorporated on 29th September, 1960 and is based in Lagos, Nigeria. The company operates as a producer and distributor of wheat based products.
Research report by Cbonds-PRAAMS Save
Authorization required
Report download is available only paid Premium subscription access
Volume
  • Placement amount
    46,000,000,000 NGN
  • Outstanding amount
    46,000,000,000 NGN
  • Outstanding face value amount
    34,500,000,000 NGN
  • USD equivalent
    25,421,691 USD
Face value
  • Face value
    1,000 NGN
  • Outstanding face value
    *** NGN
  • Increment
    *** NGN
Listing
  • Listing

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Cash flow parameters

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

Cash flow

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Early redemption terms

***

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1 000 000

bonds

100 000

stocks

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ETF & Funds

100 000

indices

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— Are you looking for the complete & verified bond data?

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full data on over 1 000 000 bonds, 100 000 stocks, 100 000 indices, 17 000 ETF and 150 000 Mutual Funds; powerful bond screener; over 350 pricing sources among stock exchanges & OTC market; ratings & financial reports; user-friendly interface; available anywhere via Website, Excel Add-in and Mobile app.

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Why

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Placement

  • Placement method
    Open subscription
  • Placement type
    Public
  • Order book
    *** - ***
  • Placement
    ***
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • Use of proceeds
    Refinance
    Working Capital
  • Use of proceeds description
    The net proceeds of the Series 2 Bond Issuance which are estimated at NGN 45,349,043,125, after deducting total issue costs of NGN 650,956,875 representing 1.42% of the issue, shall be applied as follows:
    1. Working Capital: NGN 7,349,043,125 (16%);
    2. Short term debt refinancing: NGN 38,000,000,000 (84%)
Participants
  • Bookrunner
    ***, ***, ***, ***, ***

Conversion and exchange

  • Conversion terms
    ***

Latest issues

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Identifiers

  • State registration number
    22.00% FMN MAY 2029
  • ISIN
    NGFMN2029S22
  • Cbonds ID
    1713337
  • CUSIP
    ***
  • CUSIP 144A
    ***
  • CFI
    DBFUFR
  • Type of security by CBR
    ***

Ratings

Bond classification

  • Senior Unsecured
  • Registered
  • Coupon bonds
  • Amortization
  • Non-complex financial instruments (MiFID)
  • 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
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Restructuring

***

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