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HomeTop NewsNigeria's debt office to appoints transactional advisers for local Sukuk bonds issuance

Nigeria’s debt office to appoints transactional advisers for local Sukuk bonds issuance

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By Samuel Bankole

The Debt Management Office (DMO) has said that it’s seeking to appoint Transaction Parties for the Issuance of Sovereign Sukuk in the domestic capital market through an Open Competitive Bidding process.

In a public notice, the debt office said firms interested in offering their services as issuing houses, Financial advisers, trustees and legal advisers should submit their bids through the Expression of Interest (EOI).

The debt office said the qualified issuing house will perform such function as preparing the prospectus, advising on marketing and distribution strategies, media campaigns and
investor meetings; and managing the Offering of the Sukuk.

“The Issuing Houses would work with other Transaction Parties to prepare all the offering and contractual documents.

It said the financial adviser to be appointed will advise on the general structure of the Transaction, review all Offer and Marketing Documents, ensure compliance of transaction
with non-interest financial principles and engage the authorised Exchanges for listing of the Sukuk.

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Trustees will perform the roles of Delegate Trustees to the Sukuk holders and ensure that all the contractual obligations of the parties to the Sukuk Transaction are enforced.

While the legal adviser will provide legal advice in all areas of the transaction, including drafting and reviewing all transaction and offer documents in conjunction with other Transaction Parties, the DMO said.

“All respondents to this EOI must possess proven expertise and track record in the issuance of securities and must meet the underlisted General Mandatory Eligibility Requirements.

“Furthermore, all interested respondents must meet the specified Additional Eligibility Requirements indicated for each of the categories of Transaction Parties to qualify to proceed to
the second stage of the Open Competitive Bidding, that is, the Issuance by the DMO of Request for Proposal (RfP),” the DMO wrote in the notice posted on it website.

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