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Eurobond - Investment (8) - Nairaland

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Re: Eurobond by cc150615(f): 12:50pm On Mar 24, 2022
ernie4life:


You mean dollar funds?
Yes please
Re: Eurobond by pizapato(m): 1:33am On May 12, 2022
ernie4life:
Hello investors,

am just here to inform us that yield has gone up, if you are considering investing in Eurobonds, now is the right time, most bonds are at a discount right now.

Greetings oga boss

Please do you know any of the asset management company that use First bank as custodian. I have a domicillary account with FBN, hence I'm trying to avoid transfer charges.

The following are my findings for now:
Asset Mgt ------------------> Custodian
1. United Capital ------------------> FCMB
2. FCMB Ass Mgt ------------> Standard Chartered Bank
3. Stanbic Ass Mgt ----------> Standard Chartered Bank
4. FBNQUEST ------------> First Bank


Information about the custodian of FBN Quest, Stanbic IBTC Asset Management and others will be greatly appreciated

Anyone with information on the custodians of other asset management can kindly update the list.

Gracias

Modified
Re: Eurobond by ernie4life(m): 7:01am On May 12, 2022
pizapato:


Greetings oga boss

Please do you know any of the asset management company that use First bank as custodian. I have a domicillary account with FBN, hence I'm trying to avoid transfer charges.

The following are my findings for now:
Asset Mgt Custodian
1. United Capital FCMB
2. FCMB Ass Mgt Standard Chartered Bank


Information about the custodian of FBN Quest, Stanbic IBTC Asset Management and others will be greatly appreciated

Anyone with information on the custodians of other asset management can kindly update the list.

Gracias

I don't know any
Re: Eurobond by olystic: 4:55pm On May 20, 2022
pizapato:


Greetings oga boss

Please do you know any of the asset management company that use First bank as custodian. I have a domicillary account with FBN, hence I'm trying to avoid transfer charges.

The following are my findings for now:
Asset Mgt Custodian
1. United Capital FCMB
2. FCMB Ass Mgt Standard Chartered Bank


Information about the custodian of FBN Quest, Stanbic IBTC Asset Management and others will be greatly appreciated

Anyone with information on the custodians of other asset management can kindly update the list.

Gracias
Fbnquest uses first bank
Stanbic uses standard chartered

1 Like

Re: Eurobond by pizapato(m): 11:36pm On May 20, 2022
olystic:

Fbnquest uses first bank
Stanbic uses standard chartered

Thanks chief
I will try FBNQuest as I have a domicillary account with FBN.
Re: Eurobond by ImperialCovfefe: 11:07pm On May 22, 2022
Your only consideration should be a reliable fund management company with good customer service. You might get frustrated otherwise. Transfer charges should be the least of your concerns
Re: Eurobond by ernie4life(m): 8:49am On May 23, 2022
ImperialCovfefe:
Your only consideration should be a reliable fund management company with good customer service. You might get frustrated otherwise. Transfer charges should be the least of your concerns

Very true
Re: Eurobond by yungestmoney(m): 2:43pm On May 24, 2022
ernie4life:


Very true

Hello Ernie,
I opened a dollar mutual fund account with United Capital & according to them, payment can only be made through transfer.

Now, I operate a domiciliary account with FCMB where I only source for dollar locally then deposit with the bank.

My problem now is; my bank says I can't make any transfer to United Capital because of CBN restrictions on foreign currency transfer.

Please I need your assistance, what & what do I need to have the permission to be funding my mutual fund account through my bank

Re: Eurobond by IamR: 2:55pm On May 24, 2022
yungestmoney:


Hello Ernie,
I opened a dollar mutual fund account with United Capital & according to them, payment can only be made through transfer.

Now, I operate a domiciliary account with FCMB where I only source for dollar locally then deposit with the bank.

My problem now is; my bank says I can't make any transfer to United Capital because of CBN restrictions on foreign currency transfer.

Please I need your assistance, what & what do I need to have the permission to be funding my mutual fund account through my bank

USD Cash deposit can not be transferred, you can only transfer USD inflow from your dom account to United Capital.
Re: Eurobond by sirrotex: 5:52pm On May 24, 2022
Same issue I am having. I just lost interest after their plenty story
yungestmoney:


Hello Ernie,
I opened a dollar mutual fund account with United Capital & according to them, payment can only be made through transfer.

Now, I operate a domiciliary account with FCMB where I only source for dollar locally then deposit with the bank.

My problem now is; my bank says I can't make any transfer to United Capital because of CBN restrictions on foreign currency transfer.

Please I need your assistance, what & what do I need to have the permission to be funding my mutual fund account through my bank

Re: Eurobond by ImperialCovfefe: 1:19pm On May 25, 2022
yungestmoney:


Hello Ernie,
I opened a dollar mutual fund account with United Capital & according to them, payment can only be made through transfer.

Now, I operate a domiciliary account with FCMB where I only source for dollar locally then deposit with the bank.

My problem now is; my bank says I can't make any transfer to United Capital because of CBN restrictions on foreign currency transfer.

Please I need your assistance, what & what do I need to have the permission to be funding my mutual fund account through my bank


Get a BDC to credit your domiciliary account.
Re: Eurobond by freeman67: 8:19pm On May 26, 2022
yungestmoney:


Hello Ernie,
I opened a dollar mutual fund account with United Capital & according to them, payment can only be made through transfer.

Now, I operate a domiciliary account with FCMB where I only source for dollar locally then deposit with the bank.

My problem now is; my bank says I can't make any transfer to United Capital because of CBN restrictions on foreign currency transfer.

Please I need your assistance, what & what do I need to have the permission to be funding my mutual fund account through my bank


It been like that for like 3 to 4 years now. The only money you can transfer from your dorm account is the one transferred to you. Cash deposit for transfer is not acceptable.
Re: Eurobond by Allboiz: 10:51am On May 27, 2022
freeman67:


It been like that for like 3 to 4 years now. The only money you can transfer from your dorm account is the one transferred to you. Cash deposit for transfer is not acceptable.

Even the one transferred to you; fcmb has stopped transfers from fcmb dom to fcmb dom accounts. I use Access now to transfer to UC fcmb eurobond account but there are charges.
Re: Eurobond by sirrotex: 1:38pm On May 27, 2022
Can you give us a guide on these charges?
Allboiz:


Even the one transferred to you; fcmb has stopped transfers from fcmb dom to fcmb dom accounts. I use Access now to transfer to UC fcmb eurobond account but there are charges.
Re: Eurobond by Allboiz: 5:15pm On May 27, 2022
sirrotex:
Can you give us a guide on these charges?

1. A fixed charge of $15

2. A charge of 0.5% of the amount to be transferred

0.5/100*1750 = 8.75

3. A charge of 7.5% VAT of number 2

7.5/100*8.75 = 0.66

1 Like

Re: Eurobond by sirrotex: 5:48pm On May 27, 2022
Many thanks. This is very helpful. Was it United capital fcmb dorm account you transferred to?
Allboiz:


1. A fixed charge of $15

2. A charge of 0.5% of the amount to be transferred

0.5/100*1750 = 8.75

3. A charge of 7.5% VAT of number 2

7.5/100*8.75 = 0.66
Re: Eurobond by Allboiz: 8:56am On May 28, 2022
sirrotex:
Many thanks. This is very helpful. Was it United capital fcmb dorm account you transferred to?

Yes
Re: Eurobond by OMONIMXX(m): 1:47am On Jun 21, 2022
pizapato:


Greetings oga boss

Please do you know any of the asset management company that use First bank as custodian. I have a domicillary account with FBN, hence I'm trying to avoid transfer charges.

The following are my findings for now:
Asset Mgt ------------------> Custodian
1. United Capital ------------------> FCMB
2. FCMB Ass Mgt ------------> Standard Chartered Bank
3. Stanbic Ass Mgt ----------> Standard Chartered Bank
4. FBNQUEST ------------> First Bank


Information about the custodian of FBN Quest, Stanbic IBTC Asset Management and others will be greatly appreciated

Anyone with information on the custodians of other asset management can kindly update the list.

Gracias

Modified

Please do you know if FBN quest asset's statement of account is accepted/approved for UK Visa application?
Re: Eurobond by Wapgod(m): 4:06pm On Jul 09, 2022
I just came across this thread.
Very educative.
I have a question to ask about the below Eurobond

DEBT MANAGEMENT OFFICE NIGERIA
NIGERIA’S EUROBONDS
CLOSING PRICES AND YIELDS
AS AT MONDAY, JULY 4, 2022

Yield at Issue: 8.375%
US$ 1.25BN
MAR 2029
Eurobond
Yield:13.590%

I want to subscribe to this Eurobond at a yield of 13.590% per annum, but I don't know how to go about it.
How do I go about it as this is my first time trying to subscribe to a Eurobond?
I appreciate your help and comments in advance.
Re: Eurobond by ImperialCovfefe: 5:06pm On Jul 09, 2022
Wapgod:
I just came across this thread.
Very educative.
I have a question to ask about the below Eurobond

DEBT MANAGEMENT OFFICE NIGERIA
NIGERIA’S EUROBONDS
CLOSING PRICES AND YIELDS
AS AT MONDAY, JULY 4, 2022

Yield at Issue: 8.375%
US$ 1.25BN
MAR 2029
Eurobond
Yield:13.590%

I want to subscribe to this Eurobond at a yield of 13.590% per annum, but I don't know how to go about it.
How do I go about it as this is my first time trying to subscribe to a Eurobond?
I appreciate your help and comments in advance.


For secondary market purchase, you need a minimum amount, typically $200k. If you do, contact your securities broker/asset management company. ARM securities/Stanbic can help you with it
Re: Eurobond by Wapgod(m): 5:47pm On Jul 09, 2022
ImperialCovfefe:


For secondary market purchase, you need a minimum amount, typically $200k. If you do, contact your securities broker/asset management company. ARM securities/Stanbic can help you with it
Okay, thanks.
I just have two questions.
Do I have to make a secondary market purchase to get the 13.590% rate?
Also just to confirm, A secondary market purchase means that i have to buy it on the NGX like i buy stocks right?
Thanks.
Re: Eurobond by ImperialCovfefe: 7:17pm On Jul 09, 2022
Wapgod:

Okay, thanks.
I just have two questions.
Do I have to make a secondary market purchase to get the 13.590% rate?
Also just to confirm, A secondary market purchase means that i have to buy it on the NGX like i buy stocks right?
Thanks.
You could buy some units from an open ended dollar fund such as the dollar fund from Stanbic. Subscription starts as small as $1000. Or you could buy from an asset management firm, similarly to how you buy treasury bills, from the secondary market for minimum units worth at least $200k or thereabouts.

When you buy from the secondary market, they will quote you their yield based on available supply. It should be close to 13.59% but not exact, since they include their fees in the quoted yield
Re: Eurobond by ernie4life(m): 11:08pm On Jul 09, 2022
Wapgod:

Okay, thanks.
I just have two questions.
Do I have to make a secondary market purchase to get the 13.590% rate?
Yes, though you will not get exactly that rate because market is constantly moving plus transaction charge

Also just to confirm, A secondary market purchase means that i have to buy it on the NGX like i buy stocks right?
No! Eurobonds are traded in the international market not NGX
Thanks.
Re: Eurobond by ernie4life(m): 11:12pm On Jul 09, 2022
yungestmoney:


Hello Ernie,
I opened a dollar mutual fund account with United Capital & according to them, payment can only be made through transfer.

Now, I operate a domiciliary account with FCMB where I only source for dollar locally then deposit with the bank.

My problem now is; my bank says I can't make any transfer to United Capital because of CBN restrictions on foreign currency transfer.

Please I need your assistance, what & what do I need to have the permission to be funding my mutual fund account through my bank



Best way to deal with this is to speak the a asset management company for advise on which bank that can easily transfer dollars to them.
You can also use a BDC to transfer straight to the fund manager
Re: Eurobond by yungestmoney(m): 12:04pm On Jul 17, 2022
ernie4life:



Best way to deal with this is to speak the a asset management company for advise on which bank that can easily transfer dollars to them.
You can also use a BDC to transfer straight to the fund manager

Thanks alot Ernie, for the second option, how do I get a list of BDCs operating in my state?? I reside in Uyo, Akwa Ibom state.
Re: Eurobond by ernie4life(m): 1:11pm On Jul 17, 2022
yungestmoney:


Thanks alot Ernie, for the second option, how do I get a list of BDCs operating in my state?? I reside in Uyo, Akwa Ibom state.

You need to find that yourself because I don't know any
Re: Eurobond by seyisanya(m): 9:18am On Jul 18, 2022
yungestmoney:


Thanks alot Ernie, for the second option, how do I get a list of BDCs operating in my state?? I reside in Uyo, Akwa Ibom state.
The BDC doesn't have to operate in your state. Here are two that I've used in the past: https://sebastianbdc.com/ and https://everdonbdc.com/

1 Like

Re: Eurobond by ernie4life(m): 5:47pm On Jul 27, 2022
With the current rate of dollars and high yield in the eurobonds market , one would expect that this thread will be very active but no supply of the dollar in the market is a serious setback for people interested in dollar assets especially eurobonds
Re: Eurobond by Wapgod(m): 8:52am On Jul 28, 2022
How do individuals get dollars at official rate?
Re: Eurobond by ernie4life(m): 9:05am On Jul 28, 2022
Not possible in the present Nigeria
Re: Eurobond by ImperialCovfefe: 12:36pm On Oct 07, 2022
ernie4life:
Not possible in the present Nigeria

I am really wondering how transparent these eurobonds funds are in their mark-to-market process. For example, Stanbic’s dollar fund is up ~2.5% YTD when the Nigerian eurobonds are down >20% YTD and just ~28% of the dollar fund is placement/money market.
Re: Eurobond by Olaide1295: 1:10am On Oct 21, 2022
ImperialCovfefe:


I am really wondering how transparent these eurobonds funds are in their mark-to-market process. For example, Stanbic’s dollar fund is up ~2.5% YTD when the Nigerian eurobonds are down >20% YTD and just ~28% of the dollar fund is placement/money market.

@imperialcovfefe, Thanks for the heads up.
Can you help understand the image below relative to the current ~15% yield on Eurobonds. Is getting >700 units of the Stanbic USD fund on cowrywise a good deal for $1k USD (example)?

Another one is ARM Eurobond fund which is 75% eurobond. Help me understand how to calculate yield on the bonds relative to current market rates. Thanks.

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