CORPORATE BONDS ISSUED IN NIGERIA (1960 to 2013)

N/A = Not Available

Source: Compiled from SEC Annual Report and Accounts and other SEC internal records.

S/N COMPANY FEATURES AMOUNT

N ‘M’

 YEAR OF ISSUE YEAR OF MATURITY COUPON

RATE

 LEVEL OF SUBSCRIPITON (%)
1 Broadcasting Corporation First mortgage debenture stock £210,000.00 1960 1962 N/A N/A
2 Aluminum Company

Of Nigeria

 Mortgage convertible debenture stock £425,000.00 1962 1970/72 N/A N/A
3 Nigerian Textiles Printer LTD N/A £1.30 Million 1964 1974/6 N/A N/A
4 Nigerian Textiles Mills N/A N/A 1966 1973/8 N/A N/A
5 Nigerian Sugar Company Private Placement N/A 1977 1982 N/A N/A
6 PZ Industries Redeemable Debenture Stock N/A 1981 1995 9.75% N/A
7 UTC Redeemable Debenture Stock N/A 1981 1995 9.75% N/A
8 First Bank Nigeria Preference Stock 25.00 1981 N/A N/A N/A
9 Nig. Bottling Company Secured Debenture 20.00 1982 1992 12% N/A
10 Roads Nigeria Mortgage Debenture Stock 10.00 1982 1993 12¼% N/A
11 Chemical & Allied Products Redeemable Debenture 15.00 1982 1993/7 12% N/A
12 Union Bank  Nigeria Unsecured Debenture 40.00 1982 1988/92 11¾% N/A
13 Cadbury Nigeria Unsecured Debenture 10.00 1982 1992 12% N/A
14 UAC Redeemable Insurance Debenture 25.00 1983 1994 11¼% N/A
15 Nig. Sewing Machine Manufacturing  Company Mortgage Debenture 8.00 1983 1989/93 12% N/A
16 Nigerian Industrial Development Bank Loan Stock 15.00 1983 1989/95 11¾% N/A
17 CFAO Nigeria Redeemable Debenture 25.00 1983 1991/8 12% N/A
18 Nigeria Merchant Bank Floating Rate Redeemable Stock 50.00 1990 1992/7 N/A N/A
19 Delta Glass Floating Rate Debenture Stock 25.00 1990 1993/7 N/A N/A
20  

Aswani Textile Mill Ltd

 Floating Rate Debenture Stock 40.00  

1990

 1994/7  

N/A

 N/A
21 Beecham Nig. PLC Floating Rate Redeemable Debenture Stock 40.00 1990 1995/8   N/A
22 Afriprint Nig. PLC Convertible unsecured debenture stock 90.00 1990 1996/02 N/A N/A
23 Ashaka Cement Company PLC Redeemable mortgage debenture stock 100.00 1990 N/A N/A N/A
24 Nigeria Bottling Company PLC Floating rate debenture stock 50.00 1990 1995/98 N/A N/A
25 West African Portland Cement Unsecured floating rate redeemable debenture stock 150.00 1991 1994/98 24% N/A
26 PZ Industries Unsecured floating rate redeemable stock 100.00 1991 1996/06 N/A N/A
27 Vono Product Floating rate redeemable mortgage debenture stock 9.00 1991 1996/98 25% N/A
28 Cadbury Nigeria Plc Irredeemable convertible loan stock  

2,500.00

  

1991

  

2001

  

0%

 N/A
29 Guinness Nigeria PLC Floating rate unsecured Debenture Stock 100.00 1991 1996/01   N/A
30 Christi Lied PLC Floating rate redeemable debenture stock 40.00 1991 1996/2000 37% N/A
31 PZ Industries Unsecured Float Rate redeemable debenture stock 100.00 1991 1996/06 N/A N/A
32 Texaco Nig. PLC Floating rate unsecured debenture stock 30.00 1992 1991/97 40% N/A
33 Guinea Insurance PLC Floating rate redeemable debenture stock 30.00 1992 1994/98 28% N/A
34 Nigeria Lamps Industries PLC Floating rate redeemable unsecured debenture stock 10.00 1992 1994/97 N/A N/A
35 Allied Bank of Nigeria PLC Unsecured floating rate redeemable debenture stock 60.00 1992 1994/98 N/A N/A
36 Costain (WA) PLC Floating rate redeemable debenture stock 15.00 1992 1995/98 25% N/A
37 Nigeria Hoechst PLC Floating rate unsecured debenture stock 60.00 1992 1997/99 27.5% N/A
38 Texaco Nig. PLC Floating rate unsecured debenture stock 30.00 1992 1991/97 42% N/A
39 Avon Crown Caps & Containers Nig PLC Floating rate unsecured debenture stock 30.00 1992 1995/99 – N/A
40 Incar Nigeria PLC Floating rate unsecured debenture stock 10.00 1992 1998 – N/A
41 John Holt Convertible Redeemable Unsecured Loan N/A 1993 1993 15% N/A
42 Lever Brothers Redeemable Debenture 20.00 1994 1995 10½% N/A
43 7 UP Bottling Coy of Nigeria Floating Rate/ Mortgage Redeemable Debenture Stock 30.00 1994 1995 14% N/A
44 UAC First Mortgage Debenture 25.00 1994 2005 N/A N/A
45 A.G. Leventis Convertible debenture 100.00 1994 1996 20% N/A
46 CMB Packaging Nig. PLC Unsecured redeemable debenture stock 50.00 1994 1997/00 20% N/A
47 Okitipupa Oil Palm PLC Debt Stock 20.00 1994 1995/99 – N/A
48 7 UP Bottling PLC Floating rate redeemable stock 100.00 1995 1997 N/A N/A
49 Golden Guinea N/A N/A N/A 1995 9.5% N/A
50 Aluminium Extrusion Industries Plc Debt Stock 150.00 1999 2002 20.75% N/A
51 Valucard Nig. Plc Debt Stock 100.00 1999 2002 N/A N/A
52 Nigeria Breweries Plc Debt Stock 50.00 2000 2001/06 0.5% N/A
53 West African Glass Plc Debt Stock 7,000.00 2000 2002 22.25% N/A
54 National Oil & Chemical marketing Co. Plc NOLCHEM (CONOIL) Unsecured zero coupon irredeemable convertible  loan stock 4,000.00 2002 N/A Zero coupon 102.12%
55 Cement Company of Northern Nigeria Plc Debenture stock 1,500.00 2002 2004 15% 83.5%
56 Neimeth Pharmaceutical Plc Redeemable convertible debenture stock 650.00 2003 2008 22.5% 71.17%
57 Cadbury Nig PLC (Unsecured irredeemable convertible loan stock Irredeemable convertible loan stock 5,000.00 2005 N/A Zero coupon 119.9%
58 Access Bank PLC Redeemable convertible loan stock 1,900.00 2005 2005/

2013

 1.5 (above 3 months LIBOR) 100%
59 Access Bank PLC Convertible loan stock 13,500.00 2006 N/A 12.0% (and 2% spread) 100%
60 Crusader (Nig) Plc Convertible debenture stock 4,179.00 2008 2013 12% 80.58%
61 Custodian & Allied Insurance Plc Redeemable Convertible debenture stock 1,170 .00

(US$ 10 million)

 2008   Variable Coupon 100%
62 GTBank Series 1 Bond under the 200Billion Debt Issuance Programme

 

 Senior unsecured non-convertible bonds 13,165 2009 2014 13.5% 100%
63 C & I Leasing Plc Variable Coupon 2,240.00 2009 2014 Variable Coupon 100%
64 UACN Property Development Co. Plc Fixed Rate Unsecured Non-convertible Bond 15,000.00 2010 2015 10.0% 100%
65 UBA Plc Series 1 Bond  under the  N400 Billion Medium Term Note Programme Fixed Rate Subordinated Unsecured Redeemable Non-convertible Bond 20,000.00 2010 2017 13.0% 100%
66 Flour Mills Nigeria Plc – Series I Bond Issuance under N70Bond Issuance Programme Fixed Rate Senior Unsecured Bonds

 

 37,500.00 2010 2015 12.0% 100%
67 Chellarams Plc Series  1 Bond  under the  N5 Billion Medium Term Note Programme Series 1 Senior Unsecured Fixed Rate Bond 1,500.00 2010 2016 14.0% 100%
68 Tantalizers Plc (US$7.0 million) Floating Rate Loan stock 1,050.00 2010 2017 Floating Rate 100%
69 Dana Group of  Companies Plc Series 1 Bond  under the  N36 Billion Medium Term Note Programme Floating Rate 8,010.00 2010 2015 Floating Rate MPR +7 100%
70 Tower Funding series 1 Tranche A

Under its N9billion Medium Term Note Programme

 Floating Rate 3,630.00 2011 2017 Floating Rate MPR +7 100%
71 Tower Funding series 1 Tranche B Under its N9billion Medium Term Note Programme Floating Rate 1,000.00 2011 2017 Floating Rate MPR+5.25 100%
72 Lafarge (WAPCO ) Nig. Plc  Series I Bond Issuance under N50Bond Issuance Programme Fixed rate bond series 1 11,880.00 2011 2014 11.5% 100%
73 Sterling Bank Plc Subordinated unsecured non-convertible debenture stock 7,500.00 2011 2018 13% 60.83%
74 Nig. Aviation Handing Co. (NAHCO)Plc  Series I Bond Issuance under N5Bond Issuance Programme Fixed rate bond 2,150.00 2011 2016 13% 100%
75 UBA Plc Series 2 Bond  under the  N400 Billion Medium Term Note Programme Fixed rate Bond 35,000.00 2011 2018 14% 100%
76 Crusader Nigeria Plc

 

 

 Zero Coupon unsecured subordinated redeemable Convertible debenture stock 2,260.00 2011   Zero coupon 100%
77 Challeram Plc Series 2 Bond  under the  N5 Billion Medium Term Note Programme Floating rate bond 540.00 2011 2019 MPR+5% 100%
78 C&I Leasing Plc Fixed rate Bond 940.0 2012 2017 18% 100%
79 FSDH Funding SPV Plc Series I Bond Issuance under N100 billion Debt Issuance Programme Senior Unsecured Fixed Rate Bond 5,530.00 2013 2016 14.25 100%
80 The LA Casera Company Plc  Series I Bond Issuance under the  N15 billion Debt Issuance Programme Senior Unsecured Fixed Rate Amortizing Bond 3,000.00 2013 2018 15.75 100%

Last Updated: 4th November 2013.