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FG bonds attracts N197b subscription

By Emma Ujah, Abuja Bureau Chief
The Federal Government Bond auctioned by the Debt Management Office (DMO) on Wednesday attracted N197 billion.

Eurobonds
Eurobonds

It presented an over-subscription of over N47 billion, over the N150 billion put on offer.

Bids for the 5-year tenure were allotted at the rate of 15.20 per cent; 15. 25 per cent for the 7-year tenure , while the bids for 10-year bonds got 15. 35 per cent rate.

The DMO said that the rates were consistent with yields in the secondary market.

It added that investors preferences were for the 10-year bonds, which was considered as investors’ confidence vote for the nation’s economy.

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