Académique Documents
Professionnel Documents
Culture Documents
13-Dec-13
The FMDQ Daily Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N), fixed income securities and instruments in the OTC market. The use of this report is
subject to the FMDQ OTC PLC Terms of Use and Disclaimer Statement.
Bonds
Price
FGN Bonds
Rating/Agency
NA
Issuer
FGN
ISIN
NGF201300288
NGFG8B2014S0
NGF201400328
NGF201400377
NGF201400427
NGFG7B2015S9
NGFG102016S6
NGFG9B2017S1
NGF201700396
NGF201700404
NGF201800477
NGFG9B2019S7
NGFG6B2019S3
NGFG9B2022S1
NGF202800500
NGFG6B2029S2
NGFG6B2029B8
NGFG7B2030S8
Issue
Date
24-Dec-06
18-Mar-11
31-Mar-07
29-Jun-07
28-Sep-07
23-Apr-10
16-Aug-13
27-Apr-12
27-Jul-07
31-Aug-07
30-May-08
29-Jun-12
23-Oct-09
27-Jan-12
28-Nov-08
22-May-09
20-Nov-09
23-Jul-10
Description
Issue Value
(N'bn)
Coupon (%)
TTM (Yrs)
Yield (%)
Bid
Offer
11.99 24-DEC-2013
10.50 18-MAR-2014
10.75 31-MAR-2014
9.20 29-JUN-2014
9.25 28-SEP-2014
4.00 23-APR-2015
13.05 16-AUG-2016
15.10 27-APR-2017
9.85 27-JUL-2017
9.35 31-AUG-2017
10.70 30-MAY-2018
16.00 29-JUN-2019
7.00 23-OCT-2019
16.39 27-JAN-2022
15.00 28-NOV-2028
12.49 22-MAY-2029
8.50 20-NOV-2029
10.00 23-JUL-2030
10.00
320.00
35.00
45.00
100.00
535.00
160.47
455.29
20.00
100.00
302.22
351.30
233.90
593.91
75.00
150.00
200.00
501.57
11.99
10.50
10.75
9.20
9.25
4.00
13.05
15.10
9.85
9.35
10.70
16.00
7.00
16.39
15.00
12.49
8.50
10.00
0.03
0.26
0.30
0.54
0.79
1.36
2.68
3.37
3.62
3.72
4.46
5.55
5.86
8.13
14.96
15.44
15.94
16.62
12.89
12.33
12.24
11.80
12.00
13.01
12.92
12.79
12.82
12.81
12.77
12.72
12.75
12.80
12.96
12.97
12.98
12.99
99.45
98.96
99.00
98.16
97.45
88.93
100.09
105.83
91.27
89.68
92.81
112.47
76.45
117.47
113.04
96.53
69.83
79.48
99.95
99.46
99.50
98.66
97.95
89.08
100.24
106.13
91.57
89.98
93.11
112.77
76.75
117.77
113.34
96.83
70.13
79.78
Issue Value
(N'bn)
Coupon (%)
Avg. Life/TTM
(Yrs)
1,699.43
0.00
0.05
1.50
14.34
98.80
1,001.77
88.81
0.00
0.00
0.65
0.92
1.50
1.50
13.39
13.61
91.36
88.06
2,886.67
0.00
0.88
1.50
13.57
88.57
24.56
6.00
112.22
116.70
66.49
0.00
17.25
0.00
0.00
0.00
1.45
3.31
2.99
3.35
3.56
1.50
1.50
1.50
1.50
1.50
14.03
14.34
14.36
14.34
14.32
82.03
107.08
77.84
74.50
77.51
Issuer
4,188.66
ISIN
Issue Date
Description
Indicative
Price
Agency Bonds
AMCON
NA
FMBN
LCR
NGAMCONS1T13
NGAMCONS1T21
NGAMCONS1T39
NGAMCONS2T12
NGAMCONS3T11
NGAMCONS4T10
NGAMCONS5T19
NGFMB2015S30
NGFMB2017S20
NGLCR2016S19
NGLCR2017S26
NGLCR2017S34
31-Dec-10
06-Apr-11
06-Apr-11
08-Aug-11
15-Nov-11
14-Oct-11
28-Dec-11
24-May-10
03-Apr-12
09-Dec-11
20-Apr-12
06-Jul-12
6,002.65
Page 1
Rating/Agency
Issuer
ISIN
Issue Date
Description
Issue Value
(N'bn)
Coupon (%)
Avg. Life/TTM
(Yrs)
Indicative
Price
50.00
17.00
6.00
8.50
16.50
13.00
18.50
57.50
50.00
25.00
50.00
9.00
20.00
27.00
20.00
80.00
30.00
13.00
14.00
14.00
12.50
13.00
14.00
15.50
10.00
13.75
14.00
14.00
14.00
14.50
15.50
15.50
14.50
14.75
0.16
0.64
0.83
1.72
1.50
2.17
2.17
3.35
2.83
4.05
3.50
3.50
3.83
4.83
4.17
5.94
4.83
2.45
2.75
2.95
2.65
2.75
3.88
2.65
2.45
2.75
2.75
2.45
2.95
2.85
2.85
2.85
2.10
2.85
15.04
14.63
14.98
15.39
15.32
16.83
15.60
15.29
15.63
15.54
15.28
15.78
15.66
15.60
15.64
14.85
15.60
99.58
99.57
99.31
95.73
96.59
94.56
100.06
86.49
95.32
95.46
96.09
94.48
96.52
100.15
99.91
98.63
97.30
Sub-National Bonds
A+/Agusto; A+/GCR
A/Agusto
A-/GCR
A+/Agusto
A/Agusto
Nil
A+/Agusto
A+/Agusto; A+/GCR
A-/Agusto
A/Agusto
A+/Agusto; A+/GCR
A-/Agusto; A-/GCR
A/Agusto; A-/GCR
A/Agusto; A-/GCR
A/Agusto; A-/GCR
AA-/Agusto; AA-/GCR
A/Agusto; A-/GCR
LAGOS I
KWARA
*NIGER I
KADUNA
*EBONYI
*BENUE
*IMO
LAGOS II
*BAYELSA
EDO
*DELTA
*NIGER II
*EKITI
*ONDO
*GOMBE
LAGOS III
*OSUN
NG2013S1LSB6
NGKWB2014S16
NGNRB2014S02
NGKDB2015S18
NGEBB2015S18
NGBNB2016S08
NGIMB2016S10
NG2017S2LSB0
NGBAB2017S02
NGEDB2017S06
NGDEL2018S11
NGNIG2018S12
NGEKI2018S17
NGODB2019S10
NGGMB2019S19
NGLAB2019S16
NGOSB2019S14
09-Feb-09
05-Aug-09
15-Oct-09
31-Aug-10
30-Sep-10
30-Jun-11
30-Jun-09
19-Apr-10
30-Jun-10
31-Dec-10
30-Sep-11
04-Oct-11
09-Dec-11
14-Feb-12
02-Oct-12
21-Nov-12
12-Dec-12
498.00
Corporate Bonds
A+/Agusto; AA/GCR
AA/Agusto
LAFARGE WAPCO
GTBANK
NGLCWAPBDS15
NGGTB2014S17
07-Oct-11
18-Dec-09
11.80
13.17
11.50
13.50
0.82
1.01
2.55
2.45
14.57
14.63
97.67
98.96
Nil
BBB+/Agusto
NGNIGGERMAN3
NGUPDCBNDS12
31-Dec-09
17-Aug-10
2.00
15.00
17.00
10.00
1.05
2.83
10.61
2.95
22.82
15.83
96.83
91.88
A-/Agusto
BBB-/GCR
*FLOURMILLS
*CHELLARAMS I
NGFMILLBDS10
NGCRAMSBDS18
09-Dec-10
06-Jan-11
37.50
1.50
12.00
14.00
2.83
1.83
2.65
3.88
15.53
16.71
94.43
95.61
A+/Agusto; A-/GCR
A+/GCR
BBB-/GCR
NAHCO
UBA I
*C&I LEASING
NGNAHCOBDS13
NGUBA2017S17
NGCIB2017S11
29-Sep-11
30-Sep-10
30-Nov-12
2.15
20.00
0.94
13.00
13.00
18.00
2.79
3.80
3.17
2.80
2.65
2.65
15.68
15.46
15.50
94.06
93.07
107.64
BB+/GCR
A-/GCR
*DANA GROUP#
NGDANABNDS10
NGTOWERS1TA3
09-Apr-11
09-Sep-11
8.01
3.63
16.00
18.00
4.50
4.17
5.40
2.95
18.17
15.74
93.76
107.42
UBA II
NGTOWERS1TB1
NGUBA2018S24
09-Sep-11
22-Sep-11
1.00
35.00
16.00
14.00
4.17
4.78
2.50
2.65
15.29
15.40
102.40
95.33
*CHELLARAMS II#
NGCRAMSBDS26
17-Feb-12
0.54
17.00
4.83
4.15
16.90
100.42
10.20
4.16
1.50
14.29
87.46
AA-/GCR
A/Agusto;A/GCR
BBB-/GCR
152.24
Supranational Bond
AAA/S&P
IFC
NGIFC2018S08
4131600.00%
12.00
12.00
Page 2
Rating/Agency
Issuer
ISIN
Issue Value
($mm)
Description
Issue Date
Coupon
(%)
Bid Price
FGN Eurobonds
Offer Price
Offer Yield
(%)
BB-/Fitch; B+/S&P
BB-/Fitch;
BB-/S&P
FGN
BB-/Fitch;
BB-/S&P
XSO584435142
28-Jan-11
500.00
6.75
107.84
5.41
108.89
5.24
XSO944707651
12-Jul-13
500.00
5.13
102.34
4.55
103.14
4.35
XS0944707222
12-Jul-13
500.00
6.38
103.08
5.95
104.10
5.81
1,500.00
Corporate Eurobonds
Afren PLC I
USG01283AD52
01-Feb-11
450.00
11.50
114.23
4.39
116.58
3.33
GTBank PLC I
XS0628652884
19-May-11
500.00
7.50
104.52
5.48
106.26
4.73
GTBank PLC II
XS0992162635
08-Nov-13
400.00
6.00
98.50
6.36
99.45
6.13
B+/S&P
XS0807677496
25-Jul-12
350.00
7.25
99.52
7.40
101.07
6.91
B/S&P; B/Fitch
XS0928527257
09-May-13
300.00
6.88
93.48
8.69
95.27
8.17
B/Fitch
Afren PLC II
USG01283AF01
08-Apr-12
300.00
10.25
115.37
6.75
116.76
6.46
B/S&P; B-/Fitch
FirstBank PLC
XS0957590689
07-Aug-13
300.00
8.25
102.40
7.54
104.04
7.23
B+/S&P; B+/Fitch
USG01283AG83
09-Dec-13
360.00
6.63
100.04
6.62
100.62
6.51
B-/S&P; B/Fitch
B+/S&P; B+/Fitch
2,960.00
Treasury Bills
DTM
20
27
34
41
48
55
62
69
76
83
90
97
104
111
118
125
132
146
160
174
237
265
356
FIXINGS
Maturities
2-Jan-14
9-Jan-14
16-Jan-14
23-Jan-14
30-Jan-14
6-Feb-14
13-Feb-14
20-Feb-14
27-Feb-14
6-Mar-14
13-Mar-14
20-Mar-14
27-Mar-14
3-Apr-14
10-Apr-14
17-Apr-14
24-Apr-14
8-May-14
22-May-14
5-Jun-14
7-Aug-14
4-Sep-14
4-Dec-14
Bid
11.27
11.58
11.60
11.65
11.23
11.69
11.76
11.79
11.77
11.85
11.92
11.83
12.10
12.12
12.16
12.12
12.12
11.77
11.75
11.26
11.80
11.75
11.42
Offer
11.02
11.33
11.35
11.40
10.98
11.44
11.51
11.54
11.52
11.60
11.67
11.58
11.85
11.87
11.91
11.87
11.87
11.52
11.50
11.01
11.55
11.50
11.17
Yield (%)
11.34
11.68
11.72
11.80
11.40
11.90
11.99
12.05
12.06
12.17
12.27
12.21
12.52
12.57
12.65
12.63
12.66
12.33
12.37
11.88
12.76
12.82
12.81
Money Market
NIBOR
Tenor
CALL
7 DAYS
30 DAYS
60 DAYS
90 DAYS
180 DAYS
365 DAYS
Rate (%)
12.3750
12.8333
13.2083
13.4583
13.7083
13.9583
14.2500
Tenor
Rate (%)
OBB
11.83
O/N
12.21
REPO
Tenor
Call
1M
3M
6M
Rate (%)
12.08
12.92
13.33
14.00
Bid ($/N)
Offer ($/N)
Spot
7D
14D
1M
2M
3M
6M
1Y
158.82
158.70
158.97
159.66
160.95
161.90
166.62
175.23
158.92
158.95
159.35
160.28
162.17
164.05
169.77
181.34
NITTY
Tenor
1M
2M
3M
6M
9M
12M
Rate (%)
11.7042
12.0232
12.2674
12.3808
12.5355
13.2809
NIFEX
Current Price ($/N)
BID($/N)
158.7475
OFFER ($/N)
158.8475
NOTE:
:Benchmarks
* :Amortising Bond
:Convertible Bond
AMCON: Asset Management Corporation of Nigeria
FGN: Federal Government of Nigeria
FMBN: Federal Mortgage Bank of Nigeria
IFC: International Finance Corporation
LCRM: Local Contractors Receivables Management
NAHCO: Nigerian Avaition Handling Company
NGC: Nigeria-German Company
UBA: United Bank for Africa
UPDC: UAC Property Development Company
WAPCO:West Africa Portland Cement Company
NA :Not Applicable
# :Floating Rate Bond
*from the Amortising bonds, the average life is calculated and not the duration
#
Porfolio Market
Value(Bn)
Total Outstanding
Volume(Bn)
Weighting by
Outstanding Vol
Bucket Weighting
<2
2<3
3<5
5<10
Market
475.78
732.13
1,639.34
772.38
3,619.63
535.00
715.76
1,551.13
926.57
3,728.46
14.35
19.20
41.60
24.85
100.00
13.14
20.23
45.29
21.34
100.00
14.35
19.20
41.60
24.85
100.00
* The FMDQ FGN Bond Index is indicative until January 2nd, 2014
Page 3
Weighted Mod
Duration (intrabucket)
Weighted Mod
Duration (interbucket)
% Exposure
Mod Duration
% Exposure
Mac Duration
Implied Yield
Implied
Portfolio
Price
INDEX
1.25
2.51
4.04
6.75
0.18
0.48
1.68
1.68
4.02
4.45
12.00
41.80
41.75
100.00
4.46
12.00
41.78
41.77
100.00
13.14
12.92
12.73
12.95
12.86
91.49
115.76
122.01
90.82
108.68
900.97
977.79
1,107.73
992.64
1,075.54