FMDQ Daily Quotations List

FGN Bonds
Rating/Agency Issuer Description Issue Date Coupon (%)
TOTAL OUTSTANDING VALUE
TOTAL MARKET CAPITALISATION
Outstanding Value
(₦’bn)
Maturity Date TTM (Yrs) Bid Yield (%)
Offer Yield
(%)
15.10 27-APR-2017 27-Apr-12 15.10 480.13 27-Apr-17 0.55 19.75 19.44 97.63 97.78
9.85 27-JUL-2017 27-Jul-07 9.85 20.00 27-Jul-17 0.80 20.43 20.21 92.44 92.59
9.35 31-AUG-2017 31-Aug-07 9.35 100.00 31-Aug-17 0.90 20.69 20.48 91.08 91.23
10.70 30-MAY-2018 30-May-08 10.70 300.00 30-May-18 1.64 18.57 18.45 89.21 89.36
^16.00 29-JUN-2019 29-Jun-12 16.00 351.30 29-Jun-19 2.72 14.58 14.51 103.03 103.18
7.00 23-OCT-2019 23-Oct-09 7.00 233.90 23-Oct-19 3.04 14.81 14.67 81.40 81.70
^15.54 13-FEB-2020 13-Feb-15 15.54 606.43 13-Feb-20 3.35 15.05 14.93 101.21 101.51
14.50 15-JUL-2021 13-Jul-16 14.50 210.59 15-Jul-21 4.77 14.96 14.87 98.40 98.70
^16.39 27-JAN-2022 27-Jan-12 16.39 605.31 27-Jan-22 5.31 14.93 14.85 105.16 105.46
^14.20 14-MAR-2024 14-Mar-14 14.20 719.99 14-Mar-24 7.43 15.11 15.04 95.98 96.28
^12.50 22-JAN-2026 22-Jan-16 12.50 421.02 22-Jan-26 9.29 15.29 15.22 86.35 86.65
15.00 28-NOV-2028 28-Nov-08 15.00 75.00 28-Nov-28 12.14 15.22 15.16 98.76 99.06
12.49 22-MAY-2029 22-May-09 12.49 150.00 22-May-29 12.62 15.21 15.14 84.91 85.21
8.50 20-NOV-2029 20-Nov-09 8.50 200.00 20-Nov-29 13.12 15.19 15.12 62.37 62.67
^10.00 23-JUL-2030 23-Jul-10 10.00 591.57 23-Jul-30 13.79 15.18 15.11 70.38 70.68
^12.1493 18-JUL-2034 18-Jul-14 12.15 1075.92 18-Jul-34 17.78 15.08 15.02 81.99 82.29
^12.40 18-MAR-2036 18-Mar-16 12.40 310.00 18-Mar-36 19.44 15.36 15.30 81.81 82.11
6,451.16
5,806.07
Rating/Agency Issuer Description
Issue Date Coupon (%)
Outstanding Value
(₦’bn)
Maturity Date
Avg. Life/TTM
(Yrs)
# Risk
Premium
(%)
Bid Price
Valuation Yield
(%)
Agency Bonds
Nil FMBN 17.25 FMB II 03-APR-2017
03-Apr-12 17.25 0.60 03-Apr-17 0.31 2.94 18.95 99.45
TOTAL OUTSTANDING VALUE
0.60
TOTAL MARKET CAPITALISATION
FMDQ Daily Quotations List
The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial
or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness,
performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.
Bonds
0.60
7-Oct-16
Price
Offer Price
Modelled Price

Rating/Agency Issuer Description
Issue Date Coupon (%)
Sub-National Bonds
Outstanding Value
(₦’bn)
Maturity Date
Avg. Life/TTM
(Yrs)
# Risk
Premium
(%)
Valuation Yield
(%)
A+/Agusto; A+/GCR LAGOS 10.00 LAGOS 19-APR-2017
19-Apr-10 10.00 57.00 19-Apr-17 0.53 1.00 20.69 94.84
A-/Agusto *BAYELSA 13.75 BAYELSA 30-JUN-2017
30-Jun-10 13.75 11.33 30-Jun-17 0.49 5.71 25.10 95.03
A-/Agusto EDO 14.00 EDO 31-DEC-2017
31-Dec-10 14.00 25.00 31-Dec-17 1.23 2.39 22.49 91.20
A/Agusto; A+/GCR *DELTA 14.00 DELTA 30-SEP-2018
30-Sep-11 14.00 19.37 30-Sep-18 1.27 1.00 20.95 92.71
A-/Agusto; A-/GCR *NIGER 14.00 NIGER II 4-OCT-2018
04-Oct-11 14.00 3.49 04-Oct-18 1.28 1.00 20.91 92.70
A/Agusto‡ ; A-/GCR† *EKITI 14.50 EKITI 09-DEC-2018
09-Dec-11 14.50 9.45 09-Dec-18 1.24 3.82 23.89 90.68
A-/Agusto *NIGER 14.00 NIGER III 12-DEC-2018
12-Dec-13 14.00 7.01 12-Dec-18 1.25 3.56 23.61 90.41
A-/Agusto; A-/GCR *ONDO 15.50 ONDO 14-FEB-2019
14-Feb-12 15.50 18.70 14-Feb-19 1.43 3.82 23.20 91.28
BBB+/Agusto; A-/GCR *GOMBE 15.50 GOMBE 02-OCT-2019
02-Oct-12 15.50 11.14 02-Oct-19 1.84 2.02 19.86 93.73
Aa-/Agusto; AA-/GCR LAGOS 14.50 LAGOS 22-NOV-2019
22-Nov-12 14.50 80.00 22-Nov-19 3.12 2.01 16.86 94.39
BBB-/Agusto; BBB+/GCR† *OSUN 14.75 OSUN 12-DEC-2019
12-Dec-12 14.75 19.40 12-Dec-19 1.81 1.00 18.97 93.88
Aa-/Agusto; AA-/GCR LAGOS 13.50 LAGOS 27-NOV-2020
27-Nov-13 13.50 87.50 27-Nov-20 4.14 1.30 16.30 91.75
Bbb+/Agusto; BBB+/DataPro KOGI 15.00 KOGI 31-DEC-2020
31-Dec-13 15.00 5.00 31-Dec-20 4.23 3.76 18.75 89.28
A/Agusto‡ *EKITI 14.50 EKITI II 31-DEC-2020
31-Dec-13 14.50 3.74 31-Dec-20 2.46 2.53 18.08 93.38
A-/GCR *NASARAWA 15.00 NASARAWA 06-JAN-2021
06-Jan-14 15.00 3.76 06-Jan-21 2.49 1.00 16.46 97.16
A-/Agusto *BAUCHI 15.50 BAUCHI 9-DEC-2021
09-Dec-14 15.50 14.37 09-Dec-21 3.04 1.52 16.33 98.10
A-/Agusto *OYO 16.50 OYO 16-FEB-2022
17-Feb-15 16.50 4.17 16-Feb-22 3.25 4.01 18.92 94.52
Bbb-/Agusto *BENUE 16.50 BENUE 27-FEB-2022
27-Feb-15 16.50 4.30 27-Feb-22 3.28 1.00 15.93 101.30
Bbb+/Agusto *PLATEAU 17.50 PLATEAU 30-MAR-2022
30-Mar-15 17.50 27.10 30-Mar-22 3.39 2.52 17.50 99.98
Bbb+/Agusto KOGI 17.00 KOGI II 31-MAR-2022
01-Apr-15 17.00 3.00 31-Mar-22 6.46 1.79 16.73 100.92
A-/GCR *CROSS RIVER 17.00 CROSS RIVER 27-MAY-2022
27-May-15 17.00 7.34 27-May-22 3.37 3.04 18.01 97.59
TOTAL OUTSTANDING VALUE
TOTAL MARKET CAPITALISATION
422.14
396.51
Corporate Bonds
A-/Agusto; A-/GCR FSDH 14.25 FSDH 25-OCT-2016
25-Oct-13 14.25 5.53 25-Oct-16 0.05 1.34 19.59 99.68
Nil 0.00/16.00 LCRM 08-DEC-2016
09-Dec-11 0.00/16.00 112.22 08-Dec-16 0.17 1.00 17.18 99.66
Nil ***LCRM
0.00/16.50 LCRM II 19-APR-2017
20-Apr-12 0.00/16.50 116.70 19-Apr-17 0.53 3.55 23.24 96.77
Nil 0.00/16.50 LCRM III 06-JUL-2017
06-Jul-12 0.00/16.50 66.49 06-Jul-17 0.75 5.25 25.52 94.07
A/GCR UBA 13.00 UBA 30-SEP-2017
30-Sep-10 13.00 20.00 30-Sep-17 0.98 1.88 22.79 91.79
BBB-/GCR *C & I LEASING 18.00 C&I LEASING 30-NOV-2017 30-Nov-12 18.00 0.36 30-Nov-17 0.66 1.88 21.91 98.46
Nil *DANA #{r} MPR+7.00 DANA 9-APR-2018
09-Apr-11 16.00 3.60 09-Apr-18 0.76 3.15 23.44 95.30
A-/DataPro†; CCC/GCR *TOWER # MPR+7.00 TOWER 9-SEP-2018
09-Sep-11 18.00 1.45 09-Sep-18 1.17 6.35 26.69 91.94
AAA/DataPro†; B/GCR *TOWER # MPR+5.25 TOWER 9-SEP-2018
09-Sep-11 16.00 0.40 09-Sep-18 1.17 1.00 21.34 94.83
A+/Agusto; A/GCR UBA 14.00 UBA II 30-SEP-2018
30-Sep-11 14.00 35.00 30-Sep-18 1.98 1.17 18.50 92.79
Bbb+/Agusto†; BBB+/GCR† *LA CASERA 15.75 LA CASERA 18-OCT-2018
18-Oct-13 15.75 1.50 18-Oct-18 1.03 4.42 25.27 92.18
BBB-/DataPro†; BB/GCR *CHELLARAMS # MPR+5.00 CHELLARAMS II 17-FEB-2019
17-Feb-12 18.00 0.23 17-Feb-19 1.36 6.11 25.72 91.73
Nil *DANA #{r} 16.00 DANA II 1-APR-2019
01-Apr-14 16.00 3.75 01-Apr-19 1.48 3.28 22.45 92.44
A-/GCR FCMB 15.00 FCMB 6-NOV-2020
06-Nov-15 15.00 23.19 06-Nov-20 4.08 4.47 19.47 87.75
A+/Agusto; A-/GCR NAHCO 15.75 NAHCO II 14-NOV-2020
14-Nov-13 15.75 2.05 14-Nov-20 4.10 1.00 16.00 99.22
Bbb/Agusto; A-/GCR *TRANSCORP HOTELS PLC 15.50 TRANSCORP 4-DEC-2020
04-Dec-15 15.50 9.76 04-Dec-20 2.60 3.55 18.83 93.54
BBB/GCR *FCMB 14.25 FCMB I 20-NOV-2021
20-Nov-14 14.25 26.00 20-Nov-21 5.12 2.51 17.46 89.37
A/GCR UBA 16.45 UBA I 30-DEC-2021
30-Dec-14 16.45 30.50 30-Dec-21 5.23 1.00 15.95 101.67
BBB/GCR FIDELITY 16.48 FIDELITY 13-MAY-2022
13-May-15 16.48 30.00 13-May-22 5.60 1.00 15.95 101.85
Bbb/Agusto; A-/GCR *TRANSCORP HOTELS PLC 16.00 TRANSCORP 26-OCT-2022
26-Oct-15 16.00 10.00 26-Oct-22 3.77 2.77 17.79 95.43
A/GCR STANBIC IBTC 182D T.bills+1.20 STANBIC IA 30-SEP-2024
30-Sep-14 16.29 0.10 30-Sep-24 7.98 1.00 16.16 100.54
A/GCR STANBIC IBTC 13.25 STANBIC IB 30-SEP-2024
30-Sep-14 13.25 15.44 30-Sep-24 7.98 1.00 16.16 87.18
AAA/GCR *NMRC
14.90 NMRC 29-JUL-2030
29-Jul-15 14.90 7.82 29-Jul-30 9.20 1.00 16.27 93.93
TOTAL OUTSTANDING VALUE
TOTAL MARKET CAPITALISATION
522.09
500.98
Modelled Price

Sukuk
BBB-/Agusto *OSUN 14.75 OSUN II 10-OCT-2020
10-Oct-13 14.75 9.02 10-Oct-20 2.22 3.37 19.80 91.55
TOTAL OUTSTANDING VALUE
TOTAL MARKET CAPITALISATION
9.02
8.26
Rating/Agency Issuer Description
Issue Date Coupon (%)
Outstanding Value
(₦’bn)
Maturity Date
Avg. Life/TTM
(Yrs)
# Risk
Premium
(%)
Valuation Yield
(%)
Supranational Bond
AAA/S&P IFC 10.20 IFC 11-FEB-2018
11-Feb-13 10.20 12.00 11-Feb-18 1.35 1.00 17.88 91.12
Aaa/Moody's; AAA/S&P *AfDB 11.25 AFDB 1-FEB-2021
10-Jul-14 11.25 12.95 01-Feb-21 2.57 1.00 14.15 94.03
TOTAL OUTSTANDING VALUE
TOTAL MARKET CAPITALISATION
24.95
23.11
Modelled Price
Rating/Agency Issuer Description
Issue Date Coupon (%)
FGN Eurobonds
Outstanding Value
($’mm)
Maturity Date Bid Yield (%) Offer Yield (%) Bid Price Offer Price
Prices & Yields
BB-/Fitch; B+/S&P 6.75 JAN 28, 2021
07-Oct-11 6.75 500.00 28-Jan-21 6.68 6.45 100.23 101.09
BB-/Fitch;
BB-/S&P
BB-/Fitch;
BB-/S&P
TOTAL OUTSTANDING VALUE
TOTAL MARKET CAPITALISATION
FGN
5.13 JUL 12, 2018
6.38 JUL 12, 2023
12-Jul-13 5.13 500.00 12-Jul-18 4.87 4.42 100.42 101.17
12-Jul-13 6.38 500.00 12-Jul-23 6.83 6.67 97.54 98.40
1,500.00
1,490.92
Corporate Eurobonds
B+/S&P ACCESS BANK PLC 7.25 JUL 25, 2017
25-Jul-12 7.25 350.00 25-Jul-17 8.41 8.41 99.12 99.12
B/Fitch; B/S&P FIDELITY BANK PLC 6.88 MAY 09, 2018
09-May-13 6.88 300.00 02-May-18 23.03 20.87 79.63 82.00
B+/Fitch; B+/S&P GTBANK PLC 6.00 NOV 08, 2018
08-Nov-13 6.00 400.00 08-Nov-18 6.47 6.47 99.10 99.10
B+/Fitch; BB-/S&P ZENITH BANK PLC 6.25 APR 22, 2019
22-Apr-14 6.25 500.00 22-Apr-19 7.26 7.26 97.70 97.70
B/Fitch; B/S&P DIAMOND BANK PLC 8.75 May 21, 2019
21-May-14 8.75 200.00 21-May-19 22.35 22.35 74.13 74.13
B-/Fitch; B/S&P FIRST BANK PLC 8.25 AUG 07, 2020
07-Aug-13 8.25 300.00 07-Aug-20 13.23 12.67 85.01 86.51
B-/Fitch; B/S&P ACCESS BANK PLC II 9.25/6M USD LIBOR+7.677 JUN 24, 2021
24-Jun-14 9.25 400.00 24-Jun-21 11.94 11.62 90.16 91.20
B-/Fitch; B/S&P FIRST BANK LTD 8.00/2Y USD SWAP+6.488 JUL 23 2021
23-Jul-14 8.00 450.00 23-Jul-21 14.36 14.36 78.00 78.00
B-/S&P ECOBANK NIG. LTD 8.75 AUG 14, 2021
14-Aug-14 8.75 250.00 14-Aug-21 12.23 11.76 84.88 86.63
TOTAL OUTSTANDING VALUE
TOTAL MARKET CAPITALISATION
3,150.00
2,797.77

Rating/Agency Issuer Description
Issue Date Yield @ Issue (%)
Commercial Papers
Outstanding Value
(₦’bn)
Maturity Date
DTM
# Risk
Premium
(%)
Valuation Yield
(%)
Discount Rate (%)
A-/Agusto
TOTAL OUTSTANDING VALUE
UACN PROPERTY DEVELOPMENT
COMPANY PLC
UPDC CP 18-OCT-16
18-Apr-16 11.00 16.80 18-Oct-16 11 2.03 20.61 20.49
16.80
**TREASURY BILLS^
Money Market
DTM Maturity Bid Discount (%) Offer Discount (%) Bid Yield (%)
Tenor Rate (%)
Foreign Exchange (Spot & Forwards)
13 20-Oct-16 14.23 13.98 14.31
20 27-Oct-16 16.33 16.08 16.48
OBB 15.67 Tenor Closing Rate ($/N)
27 3-Nov-16 17.01 16.76 17.23 Spot
306.75
O/N 16.17
41 17-Nov-16 15.99 15.74 16.29 7D
324.74
55 1-Dec-16 16.31 16.06 16.72 REPO 14D
325.98
62 8-Dec-16 14.89 14.64 15.28 Tenor Rate (%) 1M
328.82
69 15-Dec-16 15.36 15.11 15.81 Call 16.33 2M
334.14
83 29-Dec-16 15.36 15.11 15.92 1M 17.00 3M
339.45
90 5-Jan-17 13.91 13.66 14.41 3M 17.67 6M
355.41
104 19-Jan-17 14.40 14.15 15.02 6M 18.67 1Y
388.20
118 2-Feb-17 17.98 17.73 19.09
132 16-Feb-17 17.29 17.04 18.44
139 23-Feb-17 17.57 17.32 18.83
NOTE:
146 2-Mar-17 17.99 17.74 19.39 :Benchmarks NA :Not Applicable
153 9-Mar-17 17.63 17.38 19.04 * :Amortising Bond ^ : Market Prices
160 16-Mar-17 17.27 17.02 18.68 µ :Convertible Bond # : Floating Rate Bond
167 23-Mar-17 17.46 17.21 18.98 AMCON: Asset Management Corporation of Nigeria ***: Deferred coupon bonds
174 30-Mar-17 17.65 17.40 19.28 FGN: Federal Government of Nigeria DTM: Days-To-Maturity
181 6-Apr-17 17.85 17.60 19.58 FMBN: Federal Mortgage Bank of Nigeria TTM: Term-To-Maturity
188 13-Apr-17 16.49 16.24 18.02 IFC: International Finance Corporation ‡ : Bond rating under review
195 20-Apr-17 15.99 15.74 17.48 LCRM: Local Contractors Receivables Management †: Bond rating expired
209 4-May-17 18.08 17.83 20.17 NAHCO: Nigerian Aviation Handling Company N/A :Not Available
216 11-May-17 16.58 16.33 18.38 O/N: Overnight {r} :Issuer in receivership
230 25-May-17 17.68 17.43 19.89 UPDC: UAC Property Development Company NGC: Nigeria-German Company
237 1-Jun-17 18.00 17.75 20.38 WAPCO:West Africa Portland Cement Company UBA: United Bank for Africa
251 15-Jun-17 17.91 17.66 20.43
265 29-Jun-17 17.83 17.58 20.47
272 6-Jul-17 18.37 18.12 21.28
279 13-Jul-17 17.17 16.92 19.76
286 20-Jul-17 17.62 17.37 20.44
293 27-Jul-17 17.01 16.76 19.71
300 3-Aug-17 18.23 17.98 21.44
307 10-Aug-17 18.27 18.02 21.58
314 17-Aug-17 18.31 18.06 21.73
321 24-Aug-17 18.23 17.98 21.71
328 31-Aug-17 18.19 17.94 21.74
342 14-Sep-17 18.23 17.98 21.99
349 21-Sep-17 18.27 18.02 22.14
*for the Amortising bonds, the average life is calculated and not the TTM
# Risk Premium is a combination of credit risk and liquidity risk premiums
**Exclusive of non-trading t.bills
FMDQ FGN BOND INDEX
Modified Duration Buckets
Porfolio Market Value
(₦’bn)
Total Outstanding Volume
(₦’bn)
Weighting by
Outstanding Volume
Weighting by Mkt
Value
Bucket Weighting
% Exposure_
Mod_Duration
Implied Yield
Implied
Portfolio Price