DMO reports N150bn oversubscribed FG’s bond

DMO reports N150bn oversubscribed FG’s bond

The federal government has released details of the bond sold in month of October 2019. It recorded oversubscription by worth N150 billion, translating to 171 per cent, oversubscription, a statement by the the Debt Management Office said on Wednesday night. The Office said the total subscription received from investors for the bonds was N255.99bn, comprising

The federal government has released details of the bond sold in month of October 2019.

PRESIDENT MUHAMMADU BUHARI

It recorded oversubscription by worth N150 billion, translating to 171 per cent, oversubscription, a statement by the the Debt Management Office said on Wednesday night.

The Office said the total subscription received from investors for the bonds was N255.99bn, comprising N63.67bn for 12.75 per cent FGN April 2023 bonds; N119.78bn for 14.55 per cent FGN April 2029 bonds; and N72.54bn for 14.80 per cent FGN April 2049 bonds, an indication that bonds had been oversubscribed by N105.99 billion or 171 per cent.

The DMO further disclosed that 13, 43 and 61 bids were successful for the three bonds allotted as shown in the auction result.

It had in a circular on the October bonds stated that it would auction a N50bn five-year reopening bond that would mature in April 2023 and be offered at 12.75 per cent; and N50bn 10-year reopening bond that would mature in April 2029 and be auctioned at 14.55 per cent,  while the N50bn 30-year reopening bond expected to mature in April 2049 would be auctioned at 14.8 per cent, it added.

The settlement date for the auction bonds would be October 25, the debt management office stated.

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GOVERNOR, CENTRAL BANK OF NIGERIA, MR GODWIN EMENFIELE
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