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FG Announces Auction of N135billion Bonds to Nigerias... Here's All the Details You Need to Know
Posted by Odinaka on Wed 20th Sep, 2017 - tori.ngThe President Muhammadu Buhari-led federal government has on Tuesday, under the Debt management Office of Nigeria, announced the auction of N135billion bonds for grab by Nigerians.
The Federal Government has offered for subscription by auction N135 billion worth of bonds in its Sept. 27 auction, the Debt Management Office (DMO) said.
The offer circular obtained from its website on Tuesday in Abuja, stated that it would sell N35 billion of a bond maturing in July 2021 at 14.50 per cent.
It would also sell N50 billion at 16.28 per cent to mature in March 2027, while another N50 billion of paper would be sold at 16.24 per cent to mature in April 2037.
All the bonds on offer are re-openings of previous issues, the circular said.
Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.
(NAN)
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