FG to auction ₦115 billion bonds on Nov. 21 – DMO
The Debt Management Office (DMO) says the Federal Government is to auction by subscription ₦115 billion worth of bonds on Nov. 21.
The DMO said in a circular on its website on Tuesday in Abuja, that the five-year bonds of ₦35 billion to mature in April 2023 was offered at 12.75 per cent.
The seven-year bonds, also of ₦35 billion, is to mature in March 2025 and would be auctioned at 13.53 per cent.
The circular added that the 10-year bonds of ₦45 billion, which would be due in February 2028, would be auctioned at 13.98 per cent.
According to the DMO, units of sale is ₦1,000 per unit, subject to a minimum subscription of N50 million and in multiples of ₦1,000 thereafter.
The News Agency of Nigeria (NAN) that the bonds are backed by the full faith and credit of the Nigerian Government, with interest payable semi-annually to bondholders, while bullet repayment will be made on maturity date.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
0 Comments