aster ad

‘Backed by full faith’ Nigerian government set to auction N150 billion bonds in June

The Debt Management Office has said that the Nigerian government will offer N150 billion bonds for subscription in June.

The bonds comprised three bonds worth N50bn each, a circular said Friday.

The DMO said the bonds will be auctioned on June 23 and all three have the same date for settlement.

The bonds are a 10-year reopening bond to be offered at the rate of 16.2884 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent with maturity date of March 2035; and a 30-year reopening bond to be offered at 12.98 per cent and mature in March 2050.

FGN bonds are “backed by the full faith and credit of the Federal Government of Nigeria”, the DMO said, adding that they are equally charged upon the general assets of Nigeria.

The debt office explained further that FGN bonds qualified as liquid assets for liquidity ratio calculation for banks.

For re-openings of previously issued bonds where the coupon is already set, the circular said successful bidders would pay a price corresponding to the yield to maturity bid that cleared the volume being auctioned, plus any accrued interests on the instrument.

Last month, the DMO offered similar bonds of N150bn bonds for subscription which comprised three bonds worth N50bn each.

If the content contained herein violates any of your rights, including those of copyright, you are requested to immediately notify us via [email protected]

About Freelanews

Freelanews is a potpourri of news, entertainment, business, events and photos. This is no fake news.

Check Also

Bishop Matthew Kukah calls for government action on banditry, challenges president Tinubu

Click here to see metrics on why you should advertise on Freelanews.com Bishop Matthew Kukah …

Leave a Reply