FG to offer N150bn bonds November 20

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The Debt Management Office has said the Federal Government will auction N150bn worth of bonds by subscription on November 20.

A circular by the DMO on Wednesday showed that a N50bn five-year reopening bond maturing in April 2023 would be offered at 12.75 per cent; a N50bn 10-year reopening bond maturing in April 2029 would be auctioned at 14.55 per cent; while N50bn 30-year reopening bond maturing in April 2049 would be auctioned at 14.8 per cent.

According to the DMO, the auction date is November 20, while the settlement date is November 22.

The circular said the DMO, on behalf of the Federal Government was offering the bonds for subscription by auction and was authorised to receive applications for them.

It was recently reported that the Federal Government’s bonds for October worth N150bn were oversubscribed by N105.99bn.

The total subscription received from investors for the October bonds was N255.99bn, comprising N63.67bn for 12.75 per cent FGN April 2023 bond; N119.78bn for 14.55 per cent FGN April 2029 bond; and N72.54bn for 14.80 per cent FGN April 2049 bond.

The auction result showed that 13, 43 and 61 bids were successful for the three bonds allotted.

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