Connect with us

BUSINESS

FG to auction N150bn bonds on Feb. 20

Published

on

FG offers 2, 3 year savings bonds at 11.27%, 12.27% for April – DMO

The Debt Management Office (DMO) says the Federal Government is to auction by subscription N150 billion worth of bonds on Feb. 20.

The DMO said in a circular on its website on Thursday in Abuja, that the five-year re-opening bonds of N50 billion to mature in April 2023 would be offered at 12.75 per cent.

It said the seven-year re-opening bonds also of N50 billion to mature in March 2025 would be auctioned at 13.53 per cent.

It added that the 10-year bonds, also re-opening, of N50 billion which would be due in February 2028, would be auctioned at 13.98 per cent.

According to the DMO, the bonds would be offered at N1,000 per unit, subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter.

The DMO explained that the bonds were backed by the full faith and credit of the Nigerian Government, with interest payable semi-annually to bondholders, while bullet repayment will be made on maturity date.

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

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.

Comments
NIGERIA DECIDES

NIGERIA DECIDES

Shell Digital Plan RESPONSIVE600x750
Shell Digital Plan RESPONSIVE600x750
GTB
JoinOurWhatsAppChannel