Sefton Fross acts as Joint Legal Adviser to the Debt Management Office on the N100,000,000,000 Federal Government of Nigeria Sukuk II Issuance

Sefton Fross has once again acted as Joint Legal Adviser to the Debt Management Office (DMO) on the Federal Government of Nigeria (FGN) N100,000,000,000.00 (One Hundred Billion Naira) Sovereign Non-Interest Financing instruments (Sukuk) issuance in the domestic capital markets, following the success of the first FGN Sukuk Bond issuance in 2017.

The issuance of the Sukuk is through the FGN Roads Sukuk Company 1 PLC, a Special Purpose Vehicle jointly set-up by the DMO and the Ministry of Finance. Sefton Fross’ Team advisory role on the transaction included the drafting of the Sale Undertaking Deed, Purchase Undertaking Deed, Forward Ijarah (Lease) Agreement and Letter of Allocation.