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FINANCE: NSE Approves N21.78b Bonds For Osun, FSDH, Others
Webmaster November 25, 2013

FINANCE: NSE Approves N21.78b Bonds For Osun, FSDH, Others

Trading floor of the Nigerian Stock Exchange.
The Nigerian Stock Exchange (NSE) has given its blessings for the planned bid by the State of Osun, FSDH Funding SPV (special purpose vehicle) Plc, The lacasera Company Plc and NAHCo to list various debt instruments worth N21.78 billion on its main board.
The Quotations Committee of the NSE’s management, at its meeting of November 7, 2013, according to a report pasted on the bourse’s website at the weekend, approve the bid by the State of Osun to list its N11.4 billion Ijara sukuk Trust.
Approval and listing of the company’s offer of the Ijara Sukuk Tranche II under the administration’s N60 billion debt issuance programme is due in 2020, and has as stockbrokers- Capital Assets Limited, APT Securities & Funds, Capital Express Securities, and FBN Securities, among others. Issuing houses include: Chapel Hill Advisory Partners, Greenwich Trust, Fidelity Securities, FBN Capital and FCMB Capital Market.
FSDC Funding SPV received approval for an offer for subscription of N5.53 billion 14.25 per cent fixed rate Senior Unsecured Bond issues (Series I), due n 2016, under the N100 billion bond issuance programme. While WSTC Financial Services Limited and FSDH Securities are stockbrokers to the issue, FBN Capital is the issuing house, just like Stanbic IBTC Capital and UBA Capital.
The La Casera Company also got approval of its offer for subscription of N3 billion 15.75 per cent Senior Unsecured Fixed Rate Amortisation Bonds (Series 1) due in 2018, under a N15 billion debt issuance programme. Stanbic IBTC Stockbrokers and Kakawa Asset Management are stockbrokers, and Stanbic IBTC Capital is issuing house.
NAHCo, on the other hand got approval to offer N1.75 billion 15.25per cent Fixed Rate Unsecured Bonds Series 2, Due 2020 under the N5 billion debt issuance programme for subscription.
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