FG to auction N150bn bonds in April

FG to auction N150bn bonds in April

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;…

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FG floats 2-3 Yrs savings bonds at 5.5%, 6.5% yield

FG floats 2-3 Yrs savings bonds

FG floats 2-3 Yrs savings bonds at 5.5%, 6.5% rates   The Debt Management Office (DMO) has called on application for subscription into the federal government’s Savings Bond. In a statement on its website, DMO said the bond will be held by subscribers for two and three years and would yield 5.522 per cent and 6.522 per cent per annum respectively. It stated that the opening date is on April 6, 2021 which opened today. The offer will close on April 9, 2021, while the settlement date is April 14,…

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DMO lists N162.56bn Sovereign Sukuk on NSE, FMDQ

DMO lists N162.56bn Sovereign Sukuk on NSE, FMDQ

DMO lists N162.56bn Sovereign Sukuk on NSE, FMDQ   The Debt Management Office (DMO) has listed its third Sovereign Sukuk of N162.557 billion on the leading bourses in the country, The Nigerian Stock Exchange (NSE) and the FMDQ Securities Exchange. The Sukuk is a 7-year 11.200 per cent Al Ijarah Sovereign Sukuk Due 2027. The Sukuk which at the time of issuance was massively subscribed to the tune of ₦669.124 billion equivalent to 446 per cent oversubscription, was issued to finance 44 economic road projects across the six geo-geopolitical zones. With the…

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Debt Management Office plans N150bn bonds auction in March

Debt Management Office Bond Auction

Debt Management Office plans N150bn bonds auction in March   The Debt Management Office (DMO) has disclosed that the Federal Government will offer N150 billion bonds for subscription in March. A circular by the DMO on its website seen on Thursday 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 16.888 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent and mature…

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FG to auction N150bn February bonds

FG to auction N150bn bonds in April

FG to auction N150bn February bonds   The Debt Management Office (DMO) has said the Federal Government will auction N150 billion worth of bonds by subscription on February 17. A circular by the DMO on Thursday showed that a N50 billion 10-year reopening bond maturing in March 2027 would be offered at 16.288 per cent; another N50 billion 15-year reopening bond maturing in March 2035 would be auctioned at 12.5 per cent. It will also offer the longest of them which is a N50 billion 25-year reopening bond maturing in…

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FG’s January bonds oversubscribed by N88.28bn

Nigeria’s public debt

FG’s January bonds oversubscribed by N88.28bn   The Federal Government’s bonds for January worth N150 billion which were auctioned on Wednesday were oversubscribed by N88.28 billion, the Debt Management Office disclosed on its website. The total subscription received from investors for the bonds was N238.28 billion, comprising of N91.84 billion for 16.29 per cent FGN March 2027 bonds; N106.37 billion for 12.5 per cent FGN March 2035 bonds; and N40.07 billion for 9.8 per cent FGN July 2045 bonds. The auction result added that out of the 125, 99 and…

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Nigeria’s public debt profile hits N32.22trn

Nigeria’s public debt

Nigeria’s public debt profile hits N32.22trn As debt servicing costs N1.99trn in 9 months Revenue shortfalls, COVID-19 trigger aggressive borrowing Analysts’s fear comes true   Aggregate public debt stock in Nigeria has soared by N1.21 trillion in the third quarter of last year to hit N32.22 trillion amid revenue shortfalls. This is as the country spent almost N1.99 trillion on debt servicing payments from January to September 2020, the latest data obtained from the Debt Management Office (DMO) have shown. The debt stock is made up of the domestic and…

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Fresh W’Bank, AfDB, IDB loans may raise Nigeria’s debt to N31.7tn

Fresh loan disbursements expected from the World Bank, African Development Bank and Islamic Development Bank may raise Nigeria’s total public debt stock to N31.699tn in coming months. Nigeria currently expects about $1.844bn (N699.1bn at N379/$ official exchange rate) from the three financial institutions, Sunday PUNCH gathered from the Debt Management Office in Abuja. On September 10, 2020, Sunday PUNCH reported that Nigeria’s public debt stock, as released by the DMO, rose to a total of N31.01tn at the end of June, indicating that in the last five years under the…

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FG to auction N150bn bonds next week

Nigeria’s public debt

The Debt Management Office has said the Federal Government will auction N150 billion worth of bonds by subscription on August 19. A circular by the DMO on Tuesday showed the breakdown of the figure to include a N25 billion 10-year reopening bond that would mature in January 2026 and be offered at 12.5 per cent; and a N40 billion 15-year reopening bond that would mature in March 2035 and be offered at 12.5 per cent. It also showed a N45 billion 25-year reopening bond that would mature in July 2045…

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FG Sukuk records 446% oversubscription

DMO, Debt Management Office, Oversubscription, Bond

The Debt Management Office (DMO) has announced the result of the third Sovereign Sukuk for which it offered N150 billion to investors. The Offer attracted a very high level of subscription from investors with total subscriptions of N669.124 billion, representing a subscription level of 446 per cent. The impressive demand for the Sukuk came from a wide range of investors which included Ethical Funds, Insurance Companies, Fund Managers and Retail Investors amongst others. This participation by a wide range of investors is in line with the DMO’s objectives of diversifying…

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