CMB appointed as a Lead Issuing House for the 10 Year Fixed Rate Bond Issuance by FBNQuest

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Coronation Merchant Bank as the Lead Issuing House is pleased to inform you that the bookbuild for the FBNQuest MB Funding SPV PLC Series II up to ₦10 billion, a 10-year bond has opened on Thursday, 12 November 2020 and will close on Friday, 20 November 2020.

Price guidance range for the 10-year bond is 5.00%-6.00%.

Terms Detail
Issuer FBNQ MB SPV PLC
Sponsor FBNQuest Merchant Bank Limited
Issuing Houses Coronation Merchant Bank Limited, FBNQuest Merchant Bank Limited, UCML Capital Limited
Programme Size NGN 50,000,000,000
Issue Size NGN 10,000,000,000
Description Series 2 Fixed Rate Subordinated Unsecured Bonds
Sponsor Rating A’ by Agusto  
Issue Rating ‘A-’ by Agusto ‘A’ by DataPro
Tenor 10 years
Par-Value Issue Price N1,000 per unit 100% of Par Value
Issue Date Maturity date [●] 2020 [●] 2030
Offer Opens Offer Closes Thursday, 12 November 2020 Friday, 20 November 2020
Settlement Date [Monday, 30 November 2020]
Day Count Fraction Actual / Actual
Ranking Direct, unsecured and subordinated obligations of the Issuer
Offer Mode Offer for Subscription via Book Build
Coupon Basis Fixed-Rate
Units of Sale Minimum of ₦10,000,000 (i.e. 10,000 units @ ₦1,000/unit) and multiples of ₦1,000,000 thereafter
Principal Redemption Basis Bullet payment at maturity or on call, at par
Call Date [●] 2025 (After 5years and 1 day)
Listing The Nigerian Stock Exchange and/or FMDQ Securities Exchange
Use of Proceeds Purchase of 10 years Subordinated Unsecured Notes issued by FBNQuest Merchant Bank Limited (The Notes will have the same tenor and call Option as the Bond)
Read Also:  FCMB Group H1'20 Earnings Release - Profits jump 29% y/y amid strong earnings growth

CMB appointed as a Lead Issuing House for the 10 Year Fixed Rate Bond Issuance by FBNQuest

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