DMO opens offer for N30bn FGN bonds on October 21

THE Debt Management Office (DMO) on behalf of the Federal Government of Nigeria has announced the offer for subscription by auction, a total of N30bn worth of bonds on October 21.

This was disclosed in a circular which was issued by the Debt Management Office.

According to the circular, a breakdown of the offer by the DMO showed that the sum of N15 billion will be a 15-year re-opening bond at 12.5 per cent per annum, that would mature in March 2035 and another N15 billion 25-year re-opening bond at 9.8 per cent per annum, that would mature in July 2045.

According to the DMO, the auction date is October 16, 2020, and the settlement date for the bonds to be auctioned is October 23, 2020.

The bond will be sold at N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter. It should be noted that interest payment is payable semi-annually and the bullet repayment is on the maturity date.

 

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