FG to auction N150bn bonds in April
The Debt Management Office (DMO) on Wednesday disclosed that the Federal Government would offer N150 billion bonds for subscription in April.
A circular by the DMO on its website showed that the breakdown of bonds comprised of three bonds worth N50 billion each.
They are 10-year reopening bond to be offered at the rate of 16.2884 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 April 21, 2021 have a settlement date of April 23, 2021.
The DMO had earlier disclosed that the Federal Government’s bonds for March worth N150 billion which were auctioned were oversubscribed by N183.48 billion.
The total subscription received from investors for the bonds was N333.48 billion comprising of N65.25 billion for 16.2884 per cent FGN March 2027 bonds; N110.19 billion for 12.5 per cent FGN March 2035 bonds; and N158.04 billion for 9.8 per cent FGN July 2045 bonds.
The auction result added that out of 82, 125 and 215 total bids for the tenures, 48, 88 and 176 were successful.
It stated that a total of N262.1 billion was allotted, comprising of N44.01 billion, N86.29 billion and N131.80 billion respectively.
