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International bonds: First Bank of Nigeria, 8% 23jul2021, USD (XS1090370104, N31599AB4)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
early redeemedNigeria**/**/****450,000,000 USD***/***/***
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Yield calculation

 %
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Issue information

BorrowerFirst Bank of Nigeria
SPV / IssuerFBN Finance Company
Bond typeCoupon bonds
Placement methodOpen subscription
Placement typePublic
Issue purposeShow
Issue purpose
An amount equal to the gross proceeds of the issue of the Notes will be used by the Issuer for the sole purpose of financing the purchase of the Subordinated Note to be issued by the Bank on the issue date of the Notes. The proceeds of the Subordinated Note will be used by the Bank for general banking purposes.
Par amount, integral multiple1,000 USD
Nominal of international bonds1,000 USD
Minimum settlement amount200,000 USD
Outstanding principal amount200,000 USD
Amount450,000,000 USD
Placement date**/**/****
Maturity date**/**/****
Early redemption date07/23/2019
Floating rateYes
Coupon RateShow
Coupon Rate
*% until **.**.****, then *Y Swap Rate USD
Day count fraction***
Coupon frequency2 time(s) per year
Interest accrual date**/**/****
ListingIrish S.E.

Related issues

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
07/23/2019*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

ISIN / ISIN RegSXS1090370104
ISIN 144AUS302406AB98
CUSIP / CUSIP RegSN31599AB4
Common Code / Common Code RegS109037010
CUSIP 144A302406AB9
CFI / CFI RegSDAVSGR
CFI 144ADBFUGR
FIGI / FIGI RegSBBG006TLYTZ9
WKN / WKN RegSA1ZMF0
WKN 144AA1ZNS9
FIGI 144ABBG006TLY7H7
TickerFBNNL V8 07/23/21 REGS

Primary placement

Coupon (Yield) Guidance (*.**% - *.*%)
Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield)**.**% (*.**%)
Demand***,***,***
Settlement Duration*.**

Participants

Bookrunner: Citigroup, Goldman Sachs
Issuer Legal Adviser (International law): Clifford Chance
Issuer Legal Adviser (Domestic law): Banwo Ighodalo
Issuer Legal Adviser (Listing law): Clifford Chance
Arranger Legal Adviser (International law): White & Case London
Arranger Legal Adviser (Domestic law): Udo Udoma & Belo Osagie

Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/******,***
2**/**/******,***
3**/**/******,***
4**/**/******,***
5**/**/******,***
6**/**/******,***
7**/**/******,***
8**/**/******,***
9**/**/******,***
10**/**/******,***
11**/**/****
12**/**/****
13**/**/****
14**/**/*******,***
Show following
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Early redemption terms

*****

DateOption typePriceRepurchased amount at par, mln
Show previous
**/**/****call******
Show following
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Issue ratings

First Bank of Nigeria, 8% 23jul2021, USD

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (foreign curr.)08/08/2019
S&P Global Ratings***/***Foreign Currency LT09/22/2016
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Issuer ratings

First Bank of Nigeria

Rating AgencyRating / OutlookScaleDate
Fitch Ratings***/***LT Int. Scale (foreign curr.)11/27/2018
Moody's Investors Service ***/***LT- local currency10/16/2018
Moody's Investors Service ***/***LT- foreign currency10/16/2018
S&P Global Ratings***/***Foreign Currency LT06/21/2017
S&P Global Ratings***/***Local Currency LT06/21/2017
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Consolidated IFRS reports

year 1 Q 2 Q 3 Q 4 Q
2019
1.01 M nat
2018
2.53 M nat
0.07 M eng
1.04 M nat
2017
0.18 M nat
0.19 M nat
2.44 M eng
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