FG To Auction ₦150 Billion Bonds In April
The Office of Debt Management revealed on Wednesday that the federal government will offer N150bn bonds for subscription in April.
A circular from DMO on its website showed that the bond crash consists of three bonds worth N 50 billion each.
They are a 10-year reopening bond offering at a rate of 16.2884 percent and maturing in March 2027; 15-year reopening bonds offering 12.5 percent maturing in March 2035; The third and longest bond, a 25-year reopening bond, is offered at 9.8 percent and matures in July 2045.
According to DMO, the bonds that will be auctioned on April 21, 2021 have a settlement date of April 23, 2021.
The Destination Management Office had previously revealed that the March federal government bonds worth 150 billion naira, which were auctioned off, exceeded the subscription by 183.48 billion naira.
Total subscriptions received from investors in the bonds amounted to 333.48 billion naira, consisting of 65.25 billion Neymar compared to 16.2884 percent of FGN bonds in March 2027; N110.19bn for 12.5 percent of FGN March 2035; And 158.04N for FGN bonds in July 2045, down 9.8 percent.
The auction result added that of 82, 125 and 215 total bids, 48, 88 and 176 were successful.
It stated that a total of 262.1 billion N has been allocated, consisting of 44.01 billion N, 86.29 billion N, and 131.80 billion N, respectively.