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FG Lists Supplementary FGN Bonds (March 2021) on NSE Last Week

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Federal Government listed additional units of the Federal Government of Nigeria (FGN) Bonds issued in March 2021 on the Nigerian Stock Exchange (NSE) on Wednesday, 31 March 2021.

44,012,718 additional units of FGN at 16.2884 percent with March 2027 maturity were listed while another additional units of 86,291,852 FGN Bonds were issued at 12.5 percent with March 2035 maturity.

Finally, the FG listed 131,796,220 FGN Bonds at 9.80 percent with July 2024 maturity.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Bonds

BUA Cement Plc Lists N115Bn Bond on Nigerian Exchange

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BUA stock

BUA Cement Plc listed its N115billion 7-Year Series 1 Fixed Rate Senior Unsecured Bond on Nigerian Exchange, making it the first listing in the NGX era. The listing was commemorated with a digital Closing Gong Ceremony featuring the Chief Executive Officer (CEO), BUA Cement Plc, Engr. Yusuf Haliru Binji on Tuesday, 13 April 2021.

Speaking during the ceremony, the Divisional Head, Listings Business, NGX Limited, Mr. Olumide Bolumole stated, “In line with its commitment to support Nigeria’s economic growth by providing a liquid, efficient, and multi-asset securities exchange hub, NGX Limited continues to provide a platform that offers investors varied options including Equity, Fixed Income, Exchanged Traded Products (ETPs) and other Funds. We are, therefore, excited about BUA Cement’s debut bond offering which was oversubscribed by 37% to the tune of N137.82 Billion and represents the largest amount raised by a corporate issuer in the history of Nigeria’s Debt Capital Market. Without a doubt, this is a testament to the high level of confidence placed on this reputable brand by its investors and the entire market.”

On his part, the CEO, BUA Cement Plc, Engr. Binji commented, “I would like to thank the management of NGX Limited for the invitation to bring trading activities to a close. Today marks another key milestone on our journey to becoming the preferred cement manufacturer in Africa. As part of our growth strategy, we took the deliberate decision to access the debt capital market with the intent to raise N100 Billion in the first tranche of our N200 Billion programme. Given the overwhelming response and in accordance with the Securities and Exchange Commission’s guidelines, we accepted N115 Billion as the total subscription amount. For us this was clear assessment of our viable business model, strong financial performance, and the strength of our product offerings.”

Speaking on behalf of the parties to the transaction, the Chief Executive, Stanbic IBTC Capital, Mr. Funso Akere stated, “We are, extremely delighted to have advised BUA Cement Plc on this landmark transaction where they took advantage of very supportive conditions in the debt capital market to raise long term funding. On behalf of Stanbic IBTC Capital Limited, Tiddo Securities and Union Capital, we would like to thank BUA Cement for giving us a freehand to guide them and the commitment showed to make the transaction a phenomenal success. We would also like to thank NGX for giving us a platform to list the bonds.”

NGX has reiterated its commitment to providing issuers with a platform that allows them to continue to raise capital even in the toughest of times whilst also facilitating secondary market trading activities.

It would be recalled that The Nigerian Stock Exchange recently completed its demutualisation which led to the creation of Nigerian Exchange Group Plc (‘NGX Group’), as the non-operating holding company with three operating subsidiaries, namely: Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation Limited (NGX RegCo), the independent regulatory arm of the Exchange; and NGX Real Estate Limited (NGX RelCo), the real estate company.

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Bonds

MTN Nigeria Receives Approval to Raise Another Fund Via a Bond Issuance Programme

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MTN Nigeria said it has received approval from the Nigerian Securities and Exchange Commission (SEC) to raise fund following the successful completion of its Series III and Series IV Commercial Papers of N73,508,254,000.

The telecoms giant said the company will issue a Series I, 7-Year Fixed Rate Bond under a debut N200 billion Bond Issuance Programme (“Bond Issuance Programme”).

It added that the Bond Issuance Programme further reinforces the Company’s strategy of diversifying its funding sources. A final decision on the launch of the Series I Bond will be taken imminently, subject to prevailing market conditions.

The telecommunications company raised a combined N73.508 billion in March to finance working capital and general corporate purposes.

The CP Issuances were undertaken in line with the Company’s strategy to diversify its financing sources. In November 2020, MTN Nigeria obtained the approval of Financial Markets Dealers Quotations (FMDQ) Securities Exchange Plc to increase the Company’s CP programme from N100,000,000,000 to N200,000,000,000; following the very successful inaugura Series I and Series II CP Issuances in June 2020. The Company confirms that the Series I and Series II CP Issuances – of an aggregate value of N100,000,000,000 – have been redeemed,” MTN Nigeria stated in a statement signed by Uto Ukpanah, Company Secretary, MTN Nigeria.

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FG Lists Two (2) FGN Savings Bonds Issued in March 2021 on NSE

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The Federal Government of Nigeria listed two Federal Government of Nigeria (FGN) Savings Bonds on the Nigerian Stock Exchange (NSE) on March 24, 2020, according to the Exchange.

Therefore, dealing members are hereby notified that “the March 2021 Issue of the Federal Government of Nigeria (FGN) Savings Bonds were listed on The Nigerian Stock Exchange today, 24 March 2021,” the bourse stated.

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