FG to auction N150bn bonds on August 19

The Debt Management Office has said the Federal Government will auction N150bn worth of bonds by subscription on August 19.

A circular by the DMO on Tuesday showed the breakdown of the figure to include a N25bn 10-year reopening bond that would mature in January 2026 and be offered at 12.5 per cent; and a N40bn 15-year reopening bond that would mature in March 2035 and be offered at 12.5 per cent.

It also showed  N45bn 25-year reopening bond that would mature in July 2045 and be offered at 9.8 per cent; and the longest tenor of a N40bn 30-year reopening bond to be offered at 12.98.

According to the DMO, the settlement date for the bonds is August 21, 2020.

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