The Nigerian government on Thursday announced the commencement of the sale of a N100 billion ($326 million) debut sovereign Sukuk on the local market.
A notice on the website of the Debt Management Office, DMO, said the Sukuk is meant to fund road infrastructure across the geopolitical zones in the country.
The seven-year Islamic bond will yield a 16.47 percent rental rate, and is payable semi-annually, the DMO explained.
The notice said that subscription for the bond, which begins Thursday, September 14, will close on September 20.
http://www.premiumtimesng.com/business/business-news/243336-nigeria-starts-sale-n100-billion-sukuk.html
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