FG offers N135bn bonds by auction – DMO

FG offers N135bn bonds by auction – DMO

The Debt Management Office (DMO) has said that the Federal Government would offer for subscription by auction N135 billion worth of bonds in its September 27 auction.

According to the offer circular obtained from its website on Tuesday in Abuja, it stated that it would sell N35 billion of a bond maturing in July 2021 at 14.50 per cent.

It would also sell N50 billion at 16.28 per cent to mature in March 2027, while another N50 billion of paper would be sold at 16.24 per cent to mature in April 2037.

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All the bonds on offer are re-openings of previous issues, the circular said.

Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.