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FLOUR MILLS OF NIGERIA FMN
Business and Economy

Flour Mills of Nigeria PLC Offers 14.75% Yield on 180-Day Commercial Paper; Offer Closes Next week Wednesday (13-Feb-19)

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Flour Mills of Nigeria PLC is seeking to raise up to ₦6.0bn in the sixth series of its ₦100.0bn Commercial Paper (“CP”) Programme to support its short term funding requirements.

Please see below the details of the offer:

Issuer Flour Mills of Nigeria PLC
Size ₦100.0 billion
Tenor 180 days
Effective Yield 14.7500%
Discount Rate 13.7498%
Issuer Rating ‘A2’(Short term) and ‘BBB+’(Long term) by Global Credit Rating Co. Limited
Subscription Minimum of ₦5 million and multiples of ₦1,000 thereafter
Offer Open Thursday, February 7th, 2019
Offer Close Date Wednesday, February 13th, 2019
Allotment Date Thursday, February 14th, 2019

To invest invest in the commercial paper call your investment adviser or your bank.

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