FG bonds oversubscribed by 161.49%

Data obtained from the Debt Management Office revealed that the Federal Government’s bonds for the month of August valued at N150bn, which were auctioned on Wednesday, were oversubscribed by 161.49%.

The total subscription received for the bonds was N242.23bn, comprising of N32.68bn for the 12.5 per cent FGN January 2026 bonds; N48.82bn for the 12.5 per cent FGN March 2035 bonds; N46.44bn for the 9.8 per cent FGN July 2045 bonds; and N114.29bn for the 12.98 per cent FGN March 2050 bonds.

The auction results revealed that there were 34 successful bids each for the January 2026 and March 2035 bonds, while the July 2045 and March 2050 bonds recorded 31 and 55 successful bids from a total of 45, 71, 46, and 1,000 bids respectively.

Successful bids for the 12.5000% FGN JAN 2026, 12.5000% FGN MAR 2035, 9.8000% FGN JUL 2045 and 12.9800% FGN MAR 2050 were allotted at the Marginal Rates of 6.7000%, 9.3500%, 9.7500% and 9.9000%, respectively.

However, the original coupon rates of 12.5000% for the 12.5000% FGN JAN 2026, 12.5000% for the 12.5000% FGN MAR 2035, 9.8000% for the 9.8000% FGN JUL 2045 and 12.9800% for the 12.9800% FGN MAR 2050 will be maintained.

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