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DMO issues N60bn FGN bonds

By EmmaUja, Abuja Bureau Chief

Debt Management Office, DMO, yesterday, issued N59.53 billion FGN Bonds for the three tenors offered at the monthly auction

DMO-debt management office

The agency said in a statement that the figure represented issuance to various investors who subscribed at the auction.

The DMO said it offered N40 billion for the five-year’ N50 billion for the 10-year and N55 billion for the 30-year bonds.

“Total subscriptions received from both competitive and non-competitive bids amounted to N139.58 billion,” it disclosed.

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The agency said demand for the 30-year bond remained strong as had been the trend since the instrument was introduced to the market in April 2019.

“The total subscription for the bond at the auction was N64.71 billion.  The strong demand from investors for the FGN bonds offered at the auction was in spite of the prevailing tight liquidity experienced in the financial market,” it said.

The DMO said  allotments were made to successful bidders at the rate of 14.290% for the 5-year, 14.390% for the 10-year and 14.590% for the 30-year bonds.

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