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The Daily Quotations Lists (December 18, 2013)
The Daily Quotations Lists (December 18, 2013)
18-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
FGN Bonds
Rating/Agency
NA
Price
Issuer
FGN
ISIN
NGF201300288
NGFG8B2014S0
NGF201400328
NGF201400377
NGF201400427
NGFG7B2015S9
NGFG102016S6
NGFG9B2017S1
NGF201700396
NGF201700404
NGF201800477
NGFG9B2019S7
NGFG6B2019S3
NGFG9B2022S1
NGF202800500
NGFG6B2029S2
NGFG6B2029B8
NGFG7B2030S8
Issue
Date
Description
Issue Value
(N'bn)
Coupon (%)
TTM (Yrs)
Yield (%)
Bid
Offer
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
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
0.02
0.25
0.29
0.53
0.78
1.35
2.66
3.36
3.61
3.70
4.45
5.53
5.85
8.12
14.94
15.43
15.92
16.61
12.12
12.00
11.98
11.93
12.42
13.01
12.94
12.82
12.88
12.88
12.88
12.90
12.91
12.99
13.14
13.15
13.16
13.17
99.49
99.06
99.09
98.13
97.18
89.03
100.04
105.72
91.14
89.53
92.48
111.70
75.93
116.38
111.75
95.39
68.94
78.50
99.99
99.56
99.59
98.63
97.68
89.18
100.19
106.02
91.44
89.83
92.78
112.00
76.23
116.68
112.05
95.69
69.24
78.80
Issue Value
(N'bn)
Coupon (%)
Avg. Life/TTM
(Yrs)
#
Risk
Premium
(%)
Valuation
Yield (%)
Indicative
Price
1,699.43
0.00
0.04
1.50
13.61
99.02
1,001.77
88.81
0.00
0.00
0.64
0.91
1.50
1.50
13.65
14.18
91.38
87.79
2,886.67
0.00
0.87
1.50
14.11
88.35
24.56
6.00
112.22
116.70
66.49
0.00
17.25
0.00
0.00
0.00
1.43
3.29
2.98
3.34
3.55
1.50
1.50
1.50
1.50
1.50
14.42
14.38
14.39
14.38
14.38
81.76
106.94
89.56
79.96
83.18
Issuer
4,188.66
ISIN
Issue Date
Description
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)
#
Risk
Premium
(%)
Valuation
Yield (%)
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
87.50
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
13.50
0.14
0.63
0.83
1.70
1.50
2.17
2.17
3.34
2.83
4.04
3.50
3.50
3.83
4.83
4.17
5.93
4.83
6.94
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
2.10
14.51
14.88
15.48
15.60
15.67
16.84
15.61
15.33
15.65
15.63
15.33
15.83
15.73
15.73
15.73
15.01
15.73
15.05
99.69
99.44
98.94
95.47
96.09
94.56
100.04
86.43
95.29
95.24
95.92
94.32
96.27
99.70
99.57
98.01
96.81
93.44
11.80
13.17
2.00
15.00
37.50
1.50
2.15
20.00
0.94
8.01
3.63
1.00
35.00
11.50
13.50
17.00
10.00
12.00
14.00
13.00
13.00
18.00
16.00
18.00
16.00
14.00
0.80
1.00
1.04
2.83
2.83
1.83
2.78
3.78
3.17
4.50
4.17
4.17
4.76
2.55
2.45
10.61
2.95
2.65
3.88
2.80
2.65
2.65
5.40
2.95
2.50
2.65
15.02
15.32
23.48
15.85
15.55
16.84
15.70
15.53
15.53
18.28
15.83
15.38
15.53
97.38
98.37
96.49
91.91
94.42
95.44
94.03
92.90
107.51
93.45
107.09
102.08
94.92
0.54
17.00
4.83
4.15
17.03
99.98
10.20
4.15
1.50
14.38
87.23
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
A+/Agusto; AA/GCR
LAGOS I
KWARA
*NIGER I
KADUNA
*EBONYI
*BENUE
*IMO
LAGOS II
*BAYELSA
EDO
*DELTA
*NIGER II
*EKITI
*ONDO
*GOMBE
LAGOS III
*OSUN
LAGOS IV
NG2013S1LSB6
NGKWB2014S16
NGNRB2014S02
NGKDB2015S18
NGEBB2015S18
NGBNB2016S08
NGIMB2016S10
NG2017S2LSB0
NGBAB2017S02
NGEDB2017S06
NGDEL2018S11
NGNIG2018S12
NGEKI2018S17
NGODB2019S10
NGGMB2019S19
NGLAB2019S16
NGOSB2019S14
N/A
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
27-Nov-20
585.50
Corporate Bonds
A+/Agusto; AA/GCR
AA/Agusto
Nil
BBB+/Agusto
A-/Agusto
BBB-/GCR
A+/Agusto; A-/GCR
A+/GCR
BBB-/GCR
BB+/GCR
A-/GCR
AA-/GCR
A/Agusto;A/GCR
LAFARGE WAPCO
GTBANK
NGC STERILE LTD
*UPDC
*FLOURMILLS
*CHELLARAMS I
NAHCO
UBA I
*C&I LEASING
*DANA GROUP#
NGLCWAPBDS15
NGGTB2014S17
NGNIGGERMAN3
NGUPDCBNDS12
NGFMILLBDS10
NGCRAMSBDS18
NGNAHCOBDS13
NGUBA2017S17
NGCIB2017S11
NGDANABNDS10
NGTOWERS1TA3
*TOWER FUNDING PLC#
NGTOWERS1TB1
UBA II
NGUBA2018S24
07-Oct-11
18-Dec-09
31-Dec-09
17-Aug-10
09-Dec-10
06-Jan-11
29-Sep-11
30-Sep-10
30-Nov-12
09-Apr-11
09-Sep-11
09-Sep-11
22-Sep-11
BBB-/GCR
*CHELLARAMS II#
17-Feb-12
NGCRAMSBDS26
152.24
Supranational Bond
AAA/S&P
IFC
NGIFC2018S08
4131600.00%
12.00
12.00
Page 2
Rating/Agency
Issuer
ISIN
Issue Date
Description
Issue Value
($mm)
Coupon
(%)
Bid Price
XSO584435142
28-Jan-11
500.00
6.75
108.04
5.37
109.10
5.20
XSO944707651
12-Jul-13
500.00
5.13
102.55
4.50
103.32
4.31
XS0944707222
12-Jul-13
500.00
6.38
103.48
5.89
104.51
5.75
FGN Eurobonds
Offer Price
Offer Yield
(%)
BB-/Fitch; B+/S&P
BB-/Fitch;
BB-/S&P
BB-/Fitch;
BB-/S&P
FGN
1,500.00
Corporate Eurobonds
USG01283AD52
01-Feb-11
450.00
11.50
113.96
4.48
116.02
3.54
GTBank PLC I
XS0628652884
19-May-11
500.00
7.50
105.10
5.22
106.29
4.70
GTBank PLC II
XS0992162635
08-Nov-13
400.00
6.00
98.43
6.38
99.30
6.17
B+/S&P
XS0807677496
25-Jul-12
350.00
7.25
99.56
7.39
101.06
6.91
B/S&P; B/Fitch
XS0928527257
09-May-13
300.00
6.88
93.48
8.69
95.42
8.14
B/Fitch
Afren PLC II
USG01283AF01
300.00
10.25
115.14
6.79
116.39
6.53
B/S&P; B-/Fitch
FirstBank PLC
XS0957590689
08-Apr-12
07-Aug-13
300.00
8.25
102.46
7.52
103.73
7.28
B+/S&P; B+/Fitch
USG01283AG83
09-Dec-13
360.00
6.63
100.01
6.62
100.77
6.49
B-/S&P; B/Fitch
B+/S&P; B+/Fitch
Afren PLC I
2,960.00
Treasury Bills**
DTM
15
22
29
36
43
50
57
64
71
78
85
92
99
106
113
120
127
141
155
169
232
260
351
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
11.52
11.63
11.60
11.67
11.61
11.53
11.76
11.63
11.85
11.61
11.88
11.58
12.04
12.13
12.13
12.13
12.15
12.03
11.99
11.35
11.82
11.78
11.40
Offer
11.27
11.38
11.35
11.42
11.36
11.28
11.51
11.38
11.60
11.36
11.63
11.33
11.79
11.88
11.88
11.88
11.90
11.78
11.74
11.10
11.57
11.53
11.15
Yield (%)
11.57
11.71
11.71
11.80
11.77
11.71
11.97
11.87
12.12
11.90
12.21
11.92
12.44
12.57
12.59
12.63
12.67
12.60
12.62
11.96
12.75
12.84
12.77
Money Market
NIBOR
Tenor
CALL
7 DAYS
30 DAYS
60 DAYS
90 DAYS
180 DAYS
365 DAYS
Rate (%)
10.7917
11.0417
11.2917
11.5417
11.7917
12.1250
12.4167
Tenor
Rate (%)
OBB
10.38
O/N
10.63
Tenor
Call
1M
3M
6M
REPO
Rate (%)
10.50
11.33
12.42
13.08
Bid ($/N)
Offer ($/N)
Spot
7D
14D
1M
2M
3M
6M
1Y
159.89
160.11
160.29
160.94
162.08
163.33
167.33
175.25
159.99
160.30
160.66
161.59
163.16
165.49
170.51
181.37
NITTY
Tenor
1M
2M
3M
6M
9M
12M
Rate (%)
11.7132
11.9816
12.2339
12.5968
12.6828
13.4437
NIFEX
Current Price ($/N)
BID($/N)
159.6400
OFFER ($/N)
159.7400
NOTE:
:Benchmarks
NA :Not Applicable
* :Amortising Bond
# :Floating Rate 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
*from the Amortising bonds, the average life is calculated and not the duration
#
Porfolio Market
Value(Bn)
Total Outstanding
Volume(Bn)
<2
2<3
3<5
5<10
Market
476.31
1,106.08
1,620.48
784.75
3,987.62
535.00
1,090.29
1,551.13
960.00
4,136.42
Weighting by
Weighting by Mkt Value
Outstanding Vol
12.93
26.36
37.50
23.21
100.00
11.94
27.74
40.64
19.68
100.00
Bucket Weighting
12.93
26.36
37.50
23.21
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
1.23
2.36
4.01
6.67
0.16
0.62
1.50
1.55
3.83
4.16
16.26
39.21
40.37
100.00
4.16
16.25
39.19
40.39
100.00
13.14
12.97
13.01
13.21
13.09
91.65
111.93
120.98
89.22
107.43
902.49
945.42
1,098.39
975.20
1,063.18