Nigeria - Par Bond

Par Bond

Par Bond issued under the Brady Plan debt restructuring agreement with detachable value recovery rights indexed to the price of oil.  Bonds usually trade ex-warrant.  Eligible for tendering in debt-equity swap programme. 

Obligor: Central Bank of Nigeria
Guarantor: None
Issue Size: USD 2,050,961,000
Maturity: November 15, 2020
Interest Rate: 5 1/2% fixed to January 1995; 6 1/4% Fixed thereafter
Coupon Frequency: Semi-annual
Coupon Dates: May 15 & November 15
Day Count: 30/360
Issue Date: January 21, 1992
Amortisation: None, bullet at maturity
Options: Callable at par with accrued interest if no default.
Currency: USD
Form of Instrument: Bearer Securities
Denominations: $250,000 and integral multiples of $1,000
Credit Rating: Not rated
Principal Collateral: 30-year zero-coupon US Treasury bonds held abroad
Interest Payment Collateral: 12-month rolling interest payment collateral guarantee

Bearer Bond 

Listing: Luxembourg
Paying Agent: Chase
Bloomberg Ticker: NGERIA
CUSIP: TX3099592
ISIN: XS0035901510
Common Code: 003590151