The debt management Office (DMO) on behalf of the Federal Government has offered for subscription 4 tranches of Bond for January 2024 through auction.
They include 90 billion Naira FGN March 2027(10 years reopening) at 16.2884%; 90 billion Naira FGN April 2029 (10 years reopening) at 14.55%; 90 billion Naira FGN June 2033 (10 years reopening) at 14.7%; and 90 billion Naira FGN June 2038 (15 years reopening) at 15.45%.
The DMO in a notice scheduled auction for January 29, 2024, and settlement January 31, 2024.
Federal Government bonds are backed by the full faith and credit of the Federal Government of Nigeria and are charged upon the general assets of Nigeria.
Unit of sale for this offer is N1,000 per unit and subject to multiple subscriptions of N50,001,000 and in multiples of N1,000 thereafter.
The notice also adds that for reopenings of previously issued bonds, successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument.
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