The Debt Management Office has announced the Series 1 Trust Deed between the Federal Government of Nigeria (Issuer) and Greenwich Trustees Limited (Trustee) in respect of the up to US$500,000,000 (Five Hundred Million United States Dollars) Series 1 at 9.75% Fixed Rate Bonds Due in 2029 under the Issuer’s US$2,000,000,000.00 (Two Billion United States Dollars) Domestic FGN US Dollar Bond Issuance Programme
By the provisions of the Debt Management Office (Establishment) Act 2003 and the Presidential Executive Order No. 16 of 2023 on Foreign Currency Denominated Financial Instrument Local Issuance Programme and Related Matters Order, 2023, the Federal Government was authorised to raise debt capital of up to US$2,000,000,000 (Two Billion United States Dollars) from the capital market.
The offering of up to US$500,000,000 (Five Hundred Million United States Dollars) Fixed Rate senior unsecured Bonds due 2029 are constituted by a trust deed dated August 19, 2024 between the Federal Government of Nigeria, represented by the Debt Management Office and Greenwich Trustees Limited, which expression shall include any person or persons for the time being appointed as the trustee under the Series 1 Trust Deed as trustee for the holders of the Series 1 Bonds.
The Bondholders are entitled to the benefit of, are bound by, and are deemed to have notice of, all the provisions of the Series 1 Trust Deed and those applicable to them under the Programme Trust Deed dated August 19, 2024. Copies of the Series 1 Trust Deed are available for inspection at the office of the Trustee: 5th Floor, St. Nicholas House, No. 2-10, Hospital Road, Lagos Island, Lagos, Nigeria.