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Tuesday, August 15, 2017

Treasury Bills Auction for 16/8/2017 (Enjoy Upfront Interest)


---------- Forwarded message ----------
From: Research <research@capitalbancorpng.com>
Date: Mon, Aug 14, 2017 at 3:26 PM
Subject: Treasury Bills Auction for 16/8/2017 (Enjoy Upfront Interest)
To:


 

Dear Investor,

 

Please be informed that there will be a primary auction of Nigerian Treasury bills on Wednesday, 16th August, 2017 for the following maturities:

 

TENOR

MATURITY

VOLUME MATURING (NGN)

VOLUME ON OFFER (NGN)

91 DAYS

16-NOV-17

32,436,508,000

32,436,508,000

182 DAYS

15-FEB-18

30,000,000,000

30,000,000,000

 

Below are the rates in the secondary market obtained from the FMDQ OTC Securities Exchange as at 11th of August, 2017:

 

 

Rates in the secondary market in the last one week have remained slightly stable from previous weeks. Due to current market conditions, rates at the primary auction may close around what we have in the secondary market.

Following the table above, the rates at which Capital Bancorp Plc (CBP) will bid at this auction through a licenced Primary Dealer and Market Maker (PDMM) are as follows:

 

91 days

13.00%

182 days

16.50%

 

NOTE: Settlement for this auction will be on Thursday, 17th August, 2017

 

 

 

CBP's POLICY ON BIDS

All clients' bids (individuals and institutions) shall be submitted through licenced Primary Dealer and Market Makers (PDMMs). All bids (by individuals and institutions) will be pooled together by tenor (91, 182 and 364 days) and a single bid will be submitted for each tenor at rates to be predetermined by CBP after carefully considering our clients' interest and analysis of the market. However, CBP will only accept bids that are N500,000 and above for submission.

The pooling of bids is necessitated as a result of challenges encountered by the PDMMs in processing a single client's Treasury bill bid from start to finish on the CBN platform. Therefore, this approach is being adopted to improve efficiency and serve you better. CBP however does not commit that the bid rates proposed above will be successful. Notwithstanding, we would continue to seek alternative investment opportunities to meet your investment needs.

 

CBP's POLICY ON PAYMENT

All clients are expected to have funded CBP's bank account at the point of submission of bids to CBP; not later than 12noon Tuesday, 15th of August 2017. CBP will not submit any bid that is not funded or accompanied with a written commitment to bid. CBP shall return excess fund or money for unsuccessful bids not more than 24 hours after the release of the auction result to the investor.

 

HOLDING OF THE INSTRUMENT

CBP shall hold the instrument with a CBN recognised Custodian on behalf of the client till maturity.

 

Please note that clients will be required to comply with the Know Your Customer (KYC) requirements. 

 

CHARGES

Client will be required to pay 0.5% of Face Value of the Treasury bill as charges for the transaction (inclusive of PDMM and custodian charges) plus a transfer charge of N500 flat. Note that all the charges will be paid together with the consideration for the instrument by client at the point of purchase.

 

CONTACT

 

Kindly contact any of our staff below for any interests:

 

1.       Seun                0806 720  9845   or        sfajemirokun@capitalbancorpng.com

2.       Bode                0802 418  5046    or       badebayo@capitalbancorpng.com

3.       Kunbi              0808  067 5225    or       aadeyemi@capitalbancorpng.com

4.       Tosin               0802 831  5907   or       tolojo@capitalbancorpng.com

 

 

Regards.

 

 

To stop receiving our report(s), kindly send UNSUBSCRIBE to this email address.

 

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DISCLAIMER:
This message may contain privilege and confidential information intended only for the use of the addressee named above. If you are not the intended recipient of this message you are hereby notified that any use, dissemination, distribution or reproduction of this message is prohibited. If you have received this message in error please notify Capital Bancorp Plc. immediately. Any views expressed in this message are those of the individual sender and may not necessarily reflect the views of Capital Bancorp Plc.

 

 

 

 


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