20 September 2017

Nigeria: N100 Billion Debut Sukuk Offer Closes Wednesday

The Debt Management Office's (DMO) inaugural N100 billion Sukuk offer will close wednesday.

FBN Merchant Bank Limited and Lotus Financial Services Limited were appointed as Joint Financial Advisers to the Debt Management Office (DMO) of the federal government on the inaugural FGN N100 billion Sukuk offer.

The offer was opened to the public on the 14th of September, and is billed to close on the 20th of September following a series of investor meetings in Lagos, Abuja, Port Harcourt, Kano and Kaduna by the Advisers and the DMO, to interact with investors and provide information on the purpose, structure and benefits of the Issuance.

As a Joint Financial Adviser, FBN Merchant Bank assisted the DMO with the determination of the requirements for structuring the Issuance, working with Lotus Financial Services, Legal Advisers and Incorporated Trustees on the transaction to structure the Sukuk and prepare relevant transaction documents in compliance with legal and regulatory requirements.

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