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Home National

FG To Auction N150bn Bonds

by Segun Adewunmi
May 12, 2021
in National, Business
2 min read
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FG To Auction N150bn Bonds
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The Debt Management Office has announced that it would offer N150 billion bonds for subscription in May.

A circular by the DMO on its website showed that the breakdown of bonds comprised three bonds worth N50bn 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 a 30-year reopening bond to be offered at 14.8 per cent and mature in April 2045.

According to the DMO, the bonds which will be auctioned on May 19, 2021, have a settlement date of May 21, 2021.

The DMO had earlier disclosed that Federal Government’s bonds offered for the month of April worth N60bn were oversubscribed by N215.67bn.

The total subscription received from investors for the bonds was N275.67bn, comprising N49.7bn for 12.75 per cent FGN April 2023 bonds; N107.47bn for 12.5000 per cent FGN March 2035 bonds; and N118.5bn for 12.9800 per cent FGN March 2050 bonds.

The auction result showed that the total bids were 50, 65 and 85, while the successful bids were 26, 29 and 32 for the three bonds allotted.

Successful bids for the 12.7500 per cent FGN APR 2023, 12.5000 per cent FGN MAR 2035, and 12.9800 per cent FGN MAR 2050 were allotted at the marginal rates of 9.0000 per cent, 12.0000 per cent and 12.5000 per cent respectively.

There was another N20bn 30-year reopening bond that would mature in April 2050 and offered at 12.98 per cent.

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