The Debt Management Office on behalf of the Federal Government of Nigeria has announced the offer for subscription by auction of the following bonds:
- N50 billion bonds at the interest rate of 13.98% due in February 2028 (10-Yr Re-opening)
- N50 billion bonds at the interest rate of 12.40% due in March 2036 (20-Yr Re-opening)
- N50 billion bonds at the interest rate of 12.98% due in March 2050 (30-Yr Re-opening)
The Auction Date for the bonds is on August 18, 2021, while Settlement Date is on August 20, 2021
Units of Sale:
N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.
For reopenings of previously issued bonds, (where the coupon is already set), successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument.