Oceanic Bank: Bond


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Services

Treasury Services

Bonds

A bond is a debt instrument or security, where the holder or buyer expects the issuer (borrower) to repay a specified sum of money at specific future dates. Bonds are long tenured instruments and interest (coupon) payments are fixed and usually on a semi-annual basis. FGN Bonds are issued by CBN on behalf of DMO

Benefits

• The FGN Bonds provides an attractive high-yield but low risk investment opportunity.

• Repayment is guaranteed at the maturity of the FGN Bond

• Interest received on FGN Bonds is not subject to withholding tax, company income tax, etc.

• FGN Bond can be used as collateral to raise financing.

• Easily Tradable as it has a unique quality of being quoted on the Nigerian Stock Exchange and can also be traded over the counter (OTC)

For Whom?

• Banks (Non-Money Market Dealers & Market Makers)

• Financial Institutions

• Pension Fund Administrators

• Corporate Institutions

• Individuals

How To Apply

• Download and fill in request on Tender For FGN Bonds Form stating the Particulars of securities, value and bid rate and submit to any oceanic bank branch of your convenience

• Minimum value of N10,000.00 in multiples of N1,000.00

• Customer should state request for Book entry or Certificate

For more information:

• Call: 01-4603190 - 6

• Email: treasurygroup@oceanicbank.com

FAQ

Q. How often is coupon paid on the bond?
A. Twice a year

Q. Can I use my bonds as collateral for a facility?
A. Yes

Q. Can I resell my bonds for liquidity?
A. Yes

Q. What documentation will I have as proof of purchase of bonds?
A. An allotment letter from CBN

Q. Is there a limit to the volume of bid I can make par auction?
A. No

Q. Do I need to have an account with Oceanic bank to bid for bonds?
A. No