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DMO’s January bond auction receives N300bn over subscription

The Debt Management Office (DMO) said its just concluded Federal Government of Nigeria (FGN) bond auction for January was oversubscribed.

DMO, which made this known in a statement on Thursday, stated that the auction received a total of 160 bids.

It revealed some minor adjustments in the bonds offer during the auction.

“Our FGN bond auction for January 2022 concluded yesterday with a total of 160 successful bids.

“The auction recorded an over-subscription of N111 billion and N214 billion for the January 2026 and January 2042 bond offers respectively.

“Successful bids for 12.5 per cent FGN January 2026 and 13 per cent January 2042 were allotted at the marginal rates of 11.5 per cent and 13 per cent respectively.

“However,  the original coupon rates of 12.5 per cent  for the FGN January 2026  will be maintained while the coupon rate for 13 per cent FGN 2042 (New Issue) is set at 13 per cent,” it explained.

It will recalls that the DMO had recently released a bond issuance calendar for the first quarter of 2022

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