FG September bonds oversubscribed by 148% as investors stake N360.22bn

The Debt Managemy Office (DMO) has disclosed that the federal government’s bonds for the month of September worth N145 billion have enjoyed over 148 per oversubscription as they were auctioned on Wednesday.

Specifically, the DMO indicated that the bonds were oversubscribed by N215.22 billion, as the total subscription received from investors for the bonds was N360.22 billion.

These comprised of N83.83 billion for 12.5 per cent FGN January 2026 bonds; N71.4 billion for 12.5 FGN March 2035 bonds; N41.06 billion for 9.8 per cent FGN July 2045 bonds; and N163.93 billionn for 12.98 per cent FGN March 2050 bonds.

The auction results added that out of the 78, 71, 57, 104 total bids for the bonds, 50, 13, seven, and six bids were successful.

It stated that a total of N103.81 billion bonds were allotted comprising of N66.97 billionn, 25.43 billion, 6.81 billion and N4.6 billion respectively for the tenors.

The DMO stated that successful bids for the 12.5 per cent FGN January 2026, 12.5 per cent FGN March 2035, 9.8 per cent FGN July 2045 and 12.98 per cent FGN March 2050 were allotted at the marginal rates of 6 per cent, 8.52 per cent, 8.9 per cent and 8.94 per cent, respectively.

It stated, however that , the original coupon rates of 12.5 per cent for the 12.5 per cent FGN January 2026, 12.5 per cent for the 12.5 per cent FGN March 2035, 9.8 per cent for the 9.8 per cent FGN July 2045 and 12.98 per cent for the 12.98 per cent FGN March 2050 would be maintained.