FG announces N150bn March bond- DMO

The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria has announced the offering for subscription by auction and is authorized to receive applications for the following:

  • N50 billion bond at the rate of 16.2884% due in March 2027 (10-Yr Re-opening)
  • N50 billion bond at the rate of 12.50% due in March 2035 (15-Yr Re-opening)
  • N50 billion bond at the rate of 9.80% due in July 2045 (25-Yr Re-opening)

The auction Date is scheduled for March 24, 2021 while settlement date is March 26, 2021

UNITS OF SALE

N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.

INTEREST RATE:

For re-openings 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.

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