BUSINESS

FG to auction N70bn bonds on March 21- DMO

Published

7 years ago

March 13, 2018

Nan

FG allots N29.35bn in March bonds auction, N240.88m for savings bond

The Federal Government has offered for subscription by auction N70 billion worth of bonds in its March 21 auction, says the Debt Management Office (DMO).

The offer circular obtained from its website on Tuesday in Abuja, said that it would sell N10 billion of a five year re-opening bond maturing in July 2021 at 14.50 per cent.

It would also sell N30 billion seven year new issue to mature in March 202, at an undisclosed interest rate and another N30 billion 10 year re-opening at 13.98 per cent to mature in Feb. 2028.

Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

Related Topics:

Up Next

FBN Holdings announce new board appointments

Don't Miss

Economic Development: Adeosun seeks support for Nigeria, West Africa

Nan

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.