Finance

FG to auction N150bn bonds in March

The Debt Management Office on Wednesday disclosed that the Federal Government will offer N150bn bonds for subscription in March. 

A circular by the DMO on its website showed that the breakdown of bonds comprised of three bonds worth N50bn each.

 They are 10-year reopening bond to be offered at the rate of 16.888 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent and mature in March 2035; and the third and longest bond which is a 25-yeaer reopening bond to be offered at 9.8 per cent and mature in July 2045.

 According to the DMO, the bonds which would be auctioned on March 24 have a settlement date of March 26.

 The DMO had earlier disclosed that the Federal Government’s bonds for February worth N150bn were oversubscribed by N39.51bn.

 The total subscription received from investors for the bonds was N189.51bn, comprising of N77.05bn for 16.2884 per cent FGN March 2027 bonds; N72.33bn for 12.5 per cent FGN March 2035 bonds; and N40.13bn for 9.8 per cent GFN July 2045 bonds. 

The auction result showed that out of the 78, 53 and 60 total bids for the tenures, 31, 20 and 30 bids were successful.

 The DMO  stated that a total of N80.55bn was allotted comprising of N33.62bn, N28.9bn and N18.03bn.

 It said,  “Successful bids for the 16.2884 per cent FGN March 2027, 12.5 per cent FGN March 2035 and 9.8 per cent FGN July 2045 were allotted at the marginal rates of 10.25 per cent, 11.25 per cent and 11.8 per cent respectively.

 “However, the original coupon rates of 16.2884 per cent for the 16.2884 per cent FGN March 2027, 12.5 per cent for the 12.5 per cent FGN March 2035 and 9.8 per cent for the 9.8 per cent FGN July 2045 will be maintained.”

Related posts

COVID-19: FRC Issues Guidelines for External Auditors

Our Reporter

BDC operators warn members to be wary of currency speculation

Editor

Obasanjo decries Nigeria’s rising debts, low FDI

Our Reporter

EFCC arraigns ex-NEXIM bank MD, Orya, for N1.3bn fraud

Our Reporter

Will eNaira bode well for economy?

Ibrahim Apekhade Yusuf