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.