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Flour Mills of Nigeria Bonds, 11.1% 27feb2025, NGN (3, B) (11.10% FMN FEB 2025, NGFMN20253B3)

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Domestic bonds, Senior Unsecured

Status
Matured
Amount
7,500,400,000 NGN
Placement
***
Redemption (put/call option)
*** (-)
ACI
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
Calculator What is a calculator?
  • Placement amount
    7,500,400,000 NGN
  • Outstanding amount
    7,500,400,000 NGN
  • Face value
    1,000 NGN
  • ISIN
    NGFMN20253B3
  • CFI
    DBFGCR

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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
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Volume
  • Placement amount
    7,500,400,000 NGN
  • Outstanding amount
    7,500,400,000 NGN
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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80 234

stocks

167 970

ETF & Funds

70 000

indices

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Placement

  • Placement method
    Open subscription
  • Placement type
    Public
  • Order book
    *** - ***
  • Placement
    ***
  • Geographic breakdown
    ***
  • Investor breakdown
    ***
  • Use of proceeds
    Refinance
  • Use of proceeds description
    The net proceeds of the Series 3 (Tranche A & B) Bond Issuance, which are estimated at NGN 19,714,804,500.00, after deducting issue costs (including VAT) of NGN 285,195,500.00 representing 1.43% of the issue, shall be used for the repayment of debt obligations.
Participants
  • Bookrunner
    ***

Conversion and exchange

  • Conversion terms
    ***

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Identifiers

  • State registration number
    11.10% FMN FEB 2025
  • ISIN
    NGFMN20253B3
  • Cbonds ID
    713627
  • CUSIP
    ***
  • CUSIP 144A
    ***
  • CFI
    DBFGCR
  • Type of security by CBR
    ***

Ratings

Bond classification

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

***

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