THERE are expectations that in the week ahead, money market rates would remain within the same band as last week’s, and that the Central Bank of Nigeria (CBN) will mop-up liquidity following Open Market Operation (OMO) maturities of ₦180.8billion.
Similarly, dealers anticipate positive performance in the domestic bond market as investors take positions after unmet bids at the auction. In the Eurobond space, “we expect the dampened sentiment to continue and the issuance of Ghana Eurobond instrument,” one dealer said.
However, auction result were released for the 16.2884 Federal Government (FGN) March 2027 (Re-opening 10-Year Bond), 12.50 per cent FGN March 2035 (Re-opening 15-Year Bond) & 9.80per cent FGN July 2045 (Re-opening 25-Year Bond).
Successful bids for the 16.2884per cent FGN MAR 2027, 12.5000per cent FGN MAR 2035 & 9.8000per cent FGN JUL 2045 were allotted at the Marginal Rates of 10.5000per cent, 11.5000per cent and 12.0000per cent, respectively.
Dealers said the original coupon rates of 16.2884per cent for the 16.2884per cent FGN MAR 2027, 12.5000 per cent for the 12.5000per cent FGN MAR 2035 and 9.8000per cent for the 9.8000per cent FGN JUL 2045 will be maintained.
Meanwhile, Dangote Cement Plc. has obtained approval from its Board of Directors to access the Capital Market to support business growth and maximize available sources of its debt funding.
When raised, the proposed funding will be used for capital expenditure of the Company’s expansion projects, short term debt refinancing, and working capital requirements.
Dangote Cement Plc. is Nigeria’s largest listed entity by market capitalization on the Nigerian Stock Exchange, as well as Sub-Saharan Africa’s leading cement producer, with a combined installed capacity of 48.6Mta across its operations in 10 African countries.
The Company has submitted an application to the Securities and Exchange Commission (SEC) for the registration of a bond issuance programme.
Subsequent to obtaining regulatory approvals, the Company intends to explore its medium to long-term debt funding options through the debt capital market, subject to favorable market conditions.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Cryptocurrency: Understanding The Craze, Threat
ON Friday, February 6, the Central Bank of Nigeria (CBN) rocked the boat with a circular that inadvertently highlighted how popular cryptocurrency transactions have become among Nigerians in recent years, judging by…
ICYMI: Yoruba, Hausa Teachers Needed In US
The US Embassy and Consulate in Nigeria has announced that the services of Yoruba and Hausa teachers are needed in the United States. According to the Public Affairs Section of the US Mission Nigeria…
Controversy Over Man Who Jumped From 7th Floor Of 1004 During EFCC Raid
The police in Lagos State have begun investigations into the circumstances surrounding the alleged death of a man at 1004 Estate, Victoria Island, who allegedly jumped from the 7th floor of one of the buildings. The man was…
INEC Lists Five Challenges Ahead Of 2023 Elections
AS politicians step up horse-trading ahead of subsequent elections, the Independent National Electoral Commission (INEC) has listed five main areas of likely challenges…
After Two Years, Daddy Freeze Apologises To Bishop Oyedepo
Daddy Freeze whose real name is Ifedayo Olarinde has apologised to Bishop Oyedepo who is the presiding bishop and founder of Living Faith Church aka Winners Chapel…
Japanese automaker Nissan has announced plans to cut an additional 11,000 jobs worldwide and shut…
Governor Yusuf also approved N200 million as a soft loan for teachers across the 44....
"GROW Nigerian is SMEDAN's strategic blueprint outlining plans to accelerate economic growth by providing vital…
In an effort to rid Kogi State of criminals, kidnappers, and other illegal activities, the…
The Kano State Pilgrims Welfare Board has announced the commencement of the airlift of intending…
Under this pretence, Tepison Enterprises transferred $210,000 to secure a fabricated "capital project bond," with…
This website uses cookies.