DMO opens two, three-year savings bonds

The Debt Management Office (DMO) on Monday announced that it has started receiving applications for the Federal Government’s two-year savings bond at 5.52 per cent and three-year savings bond at 6.52 per cent interest rates per annum respectively.

In a circular posted on the agency’s website, the two-year bond will be due on April 14 2023 while the three-year bond will be due on April 14, 2023.

According to the agency, settlement date would be April 14, 2021, while the coupon payment dates are July 14, October 14, January 14, and April 14.

It explained that maximum subscription is N50 million at N1,000 per unit, subject to minimum subscription of N5,000 and in multiples of N1,000.

The circular said that the offer would close on April 9.

“Interested investors should contact the stockbroking firms appointed as distribution agents by the Debt Management Office,” the circular said.

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