DMO to public sale N150 billion bonds for April on behalf of FG

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The Debt Management Office (DMO) has introduced the supply of N150 billion bonds for subscription by public sale within the month of April on behalf of the Federal Government.

A breakdown of the bonds reveals {that a} 10-year reopening bond is to be supplied on the fee of 16.2884% with a maturity date in March 2027; a 15- yr reopening bond will probably be supplied at 12.5% with a maturity date in March 2035; and the third and longest bond which is a 25-year reopening bond will probably be supplied at 9.8% and mature in July 2045.

This disclosure is contained in a round issued by the DMO on April 14, 2021, and will be seen on its web site.

The round states that the bonds which might be auctioned on April 21, 2021, have a settlement date of April 23, 2021, including that the unit of sale is N1,000 per unit topic to a minimal subscription of N50,000 and in multiples of N1,000 thereafter.

It additionally states that the curiosity is payable semi-annually with the redemption anticipated to be in bullet fee on the maturity date.

In case you missed it

  • The DMO had earlier disclosed that the Federal Government’s bonds for March price N150bn which have been auctioned have been oversubscribed by N183.48bn.
  • The whole subscription obtained from traders for the bonds was N333.48bn comprising N65.25bn for 16.2884% FGN March 2027 bonds; N110.19bn for 12.5% FGN March 2035 bonds; and N158.04bn for 9.8% FGN July 2045 bonds.
  • The public sale consequence added that out of 82, 125 and 215 whole bids for the tenures, 48, 88 and 176 have been profitable.
  • It acknowledged {that a} whole of N262.1bn was allotted, comprising of N44.01bn, N86.29bn and N131.80bn respectively.

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