The Nation (Nigeria)

•DMO offers N150b Federal Govt bonds

- From Nduka Chiejina (Assits Editor)

THE Debt Management Office (DMO), on behalf of the Federal Government, is offering N150 billion bonds for subscripti­on for this month.

The offer announced by the DMO via an Offer Circular yesterday is in three tranches of N50 billion each.

The first is “a 10-year reopening bond to be offered at the rate of 13.98 percent with a maturity date of February 2028”.

The second tranche of N50 billion with 12.40 percent rate has March 2036 (20 years) as maturity, while the third tranche of N50 billion with 12. 98 percent (30year re-opening) has March 2050 maturity.

According to the circular, auction date would be July 19, 2021, with a settlement date is July 23, 2021.

Transactio­ns would be at N1,000 per unit, subject to a minimum subscripti­on of N50,001,000 and in multiples of N1,000 thereafter.

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