The Director General of SEC Nigeria recently spoke on Arise Television, shedding light on key updates in the Investment and Securities Act (ISA) 2025 | Enroll Now: Training Opportunities at The Nigerian Capital Market Institute (NCMI)! | In a major boost to capital market regulation in Nigeria, President Ahmed Bola Tinubu GCFR, has assented to the Investments and Securities Bill (ISB) 2025, which repeals the Investments and Securities Act No. 29 of 2007 and enacts the Investments and Secu | The Director General of SEC Nigeria recently spoke on Arise Television, shedding light on key updates in the Investment and Securities Act (ISA) 2025 | Enroll Now: Training Opportunities at The Nigerian Capital Market Institute (NCMI)! | In a major boost to capital market regulation in Nigeria, President Ahmed Bola Tinubu GCFR, has assented to the Investments and Securities Bill (ISB) 2025, which repeals the Investments and Securities Act No. 29 of 2007 and enacts the Investments and Secu |

CORPORATE BONDS ISSUED IN NIGERIA
(1960 to 2013)

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

Issued Nigerian Corporate Bonds
S/N COMPANY FEATURES AMOUNTN ‘M’ YEAR OF ISSUE YEAR OF MATURITY COUPONRATE LEVEL OF SUBSCRIPITON (%)
1 Broadcasting Corporation First mortgage debenture stock £210,000.00 1960 1962 N/A N/A
2 Aluminum CompanyOf 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 AUnder 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

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