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  Date: 20-11-2013

Nomenclature


Original
Tenor

Coupon

Maturity
Outstanding
No Of Years To Maturity

Buy

Sell

Yield
4.00% FGN APR 2015
5
4.00
2015-04-24
1.42
88.65
88.80
12.86
13.05% FGN AUG 2016
3
13.05
2016-08-17
2.74
100.75
100.90
12.63
15.10% FGN APR 2017
5
15.10
2017-04-28
3.44
106.91
107.21
12.45
9.35% FGN AUG 2017
10
9.35
2017-09-01
3.78
90.61
90.91
12.43
10.70% FGN MAY 2018
10
10.70
2018-05-31
4.53
93.99
94.29
12.38
16.00% FGN JUN 2019
7
16.00
2019-06-30
5.61
113.52
113.82
12.49
7.00% FGN OCT 2019
10
7.00
2019-10-24
5.93
77.18
77.48
12.49
16.39% FGN JAN 2022
10
16.39
2022-01-28
8.19
118.87
119.17
12.56
15.00% FGN NOV 2028
20
15.00
2028-11-29
15.03
113.86
114.16
12.85
12.49% FGN MAY 2029
20
12.49
2029-05-23
15.51
97.18
97.48
12.87
8.50% FGN NOV 2029
20
8.50
2029-11-21
16.01
70.26
70.56
12.89
10.00% FGN JUL 2030
20
10.00
2030-07-24
16.68
79.88
80.18
12.92
  Date: 01-11-2013

Maturities


Days to Maturity

Buy

Mid

Sell

Yield
2013-11-15
14
13.00
10.17
10.04
9.92
2013-11-22
21
20.00
10.40
10.28
10.15
2013-11-29
28
27.00
10.37
10.24
10.12
2013-12-06
35
34.00
10.77
10.64
10.52
2013-12-13
42
41.00
10.54
10.42
10.29
2013-12-20
49
48.00
10.94
10.82
10.69
2014-01-03
63
62.00
11.90
11.78
11.65
2014-01-10
70
69.00
11.81
11.68
11.56
2014-01-17
77
76.00
11.98
11.85
11.73
2014-01-24
84
83.00
12.00
11.88
11.75
2014-01-31
91
90.00
11.70
11.58
11.45
2014-02-07
98
97.00
11.68
11.55
11.43
2014-02-14
105
104.00
11.58
11.45
11.33
2014-02-21
112
111.00
11.80
11.68
11.55
2014-02-28
119
118.00
12.05
11.93
11.80
2014-03-07
126
125.00
11.94
11.82
11.69
2014-03-14
133
132.00
12.12
11.99
11.87
2014-03-21
140
139.00
12.08
11.95
11.83
2014-03-28
147
146.00
12.00
11.88
11.75
2014-04-04
154
153.00
12.10
11.98
11.85
2014-04-11
161
160.00
12.06
11.93
11.81
2014-04-18
168
167.00
12.12
11.99
11.87
2014-04-25
175
174.00
11.51
11.38
11.26
2014-05-09
189
188.00
11.97
11.84
11.72
2014-05-23
203
202.00
11.86
11.73
11.61
2014-08-08
280
279.00
11.70
11.58
11.45
2014-09-05
308
307.00
11.58
11.46
11.33
  Date: 15-11-2013

Issuer

Issue Size
(N'bn)

Rating

Maturity
Original Tenor
TTM/Ave. Life

Coupon
(%)


Mid Price
Yield
(%)
Lagos-1 (S1)
50.00
A+, AA,
2014-02-02
5.00
0.23
13.00
99.74
13.67
Kwara
17.00
A
2014-08-02
5.00
0.72
14.00
99.62
14.49
Niger#
6.00
A-
2014-10-02
5.00
0.83
14.00
99.43
15.00
Kaduna
8.50
A+
2015-08-02
5.00
1.79
12.50
96.72
14.61
Ebonyi#
16.50
A
2015-09-02
5.00
1.83
13.00
98.51
14.56
Imo#
18.50
A+
2016-06-02
7.00
2.17
15.50
101.87
13.99
Benue#
13.00
A-
2016-06-02
5.00
2.17
14.00
99.11
14.85
Bayelsa#
50.00
A-
2017-06-02
7.00
2.83
13.75
99.62
14.06
Lagos-1(S2)
57.00
A+
2017-04-02
7.00
3.43
10.00
87.11
14.93
Ekiti#
20.00
A
2018-12-02
7.00
3.83
14.50
100.41
14.34
Delta#
50.00
A+
2018-09-02
7.00
3.50
14.00
100.52
13.78
Edo
25.00
A
2017-12-02
7.00
4.13
14.00
97.10
14.95
Gombe#
20.00
A/A-
2019-10-02
7.00
4.17
15.50
88.08
14.34
Ondo#
27.00
A/A-
2019-02-02
7.00
4.75
15.50
106.87
14.21
Niger (S1)
9.00
A-
2018-10-02
7.00
4.83
14.00
97.38
14.76
Lagos-2 (S1)
80.00
Aa-/A+
2019-11-02
7.00
6.02
14.50
103.43
13.65
Osun#
30.00
A/A-
2019-12-02
7.00
6.08
14.75
106.96
14.50



Legend:
# : Amortizing bonds; * : Floating rate bonds; S: Series; Tr. : Tranche

NB:
(i)                  Prices and yields are indicative
(ii)                 For amortising bonds, average life is used in place of Term-To-Maturity (TTM)



More on State Bond

  Date: 15-11-2013

Issuer

Issue Size
(N'bn)

Rating

Maturity
Original Tenor
TTM/Ave. Life

Coupon
(%)


Mid Price
Yield
(%)
Lafarge
11.8
A+/AA-
2014-10-02
3
0.89
11.5
97.02
15.16
GT Bank
13.17
AA
2014-12-02
5
1.09
13.5
99
14.49
Chellarams#
1.5
BBB-
2016-01-02
5
1.83
14
97.86
16.32
UPDC#
15
BBB
2015-08-02
5
2.17
10
95.14
15.64
NAHCO
2.15
AA/A-
2016-09-02
5
2.87
13
91.79
16.69
Flourmills#
37.5
A
2015-12-02
5
3.17
12
81.3
14.71
UBA (S1)
20
A+
2017-09-02
7
3.88
13
94.66
14.85
C&I Leasing#
0.94
BBB-
2017-10-02
5
3.96
18
102.67
16.47
*Tower (S1Tr. A)#
3.63
A-/A-
2018-09-02
7
4.17
18
107.77
15.72
*Tower (S1 Tr. B)#
1
AAA/AA-
2018-09-02
7
4.17
16
105.5
14.72
*Dana#
8.01
BB+/BBB+
2018-04-02
7
4.5
16
99.43
16.36
*Chellarams (S2) #
0.54
BBB-
2019-02-02
7
4.83
17
105.22
16.62
UBA (S2)
35
A/A
2018-09-02
7
4.87
14
97.91
14.6


Legend:
# : Amortizing bonds; * : Floating rate bonds; S: Series; Tr. : Tranche

NB:
(i)                  Prices and yields are indicative
(ii)                 For amortising bonds, average life is used in place of Term-To-Maturity (TTM)


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Disclaimer: This publication is provided by Dunn Loren Merrifield for information purposes only. We derive our information from sources that we believe to be accurate and up-to-date as of the date of publication, but make no guarantees. We reserve the right to update or correct this information at any time. Nothing in this publication constitutes investment, legal or other advice. Nothing in this publication constitutes an offer or an invitation or solicitation to offer or sell any securities or to provide investment services of any description.
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