FG Bonds oversubscribed by N318.2bn- DMO

The interest shown by investors in Federal Government Bonds (FGN Bonds) has not waned as they staked about N458.2 billion for the N140 billion bond. This was disclosed by the Debt Management Office (DMO).

The Debt Management Office, in a statement released today, said the February 2020 Federal Government of Nigeria (FGN) Bond Auction, which took place on Wednesday, was significantly oversubscribed by investors. The result of the FGN Bond auction signifies a consistent trend of oversubscription of the bond auction by investors.

The DMO offered N140 billion across the three instruments to investors at the auction (5-year tenor: N45 billion; 10-year tenor: N45 billion; and 30-year tenor: N50 billion).
The subscriptions received through competitive bids for the three instruments were N398.20 billion, indicating a total subscription level of 284.43%. Non-Competitive bid for the sum of N60 billion was also received, making the total subscriptions from Competitive and Non-Competitive bid hit N458.20 billion.

 

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