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DMO completes first round of 2022 borrowing plans

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DMO: Domestic debt servicing increased by over N247bn in 2017

The first bond issuance for 2022 has been completed successfully with Nigerians offering more than the N214.05 billion offered by The Debt Management Office (DMO).

In a statement published on its website, the DMO said the bond-which is a form of domestic borrowing-were offered in two tranches of N75 billion.

According to DMO, the bonds were 10-year bond at 12.50 percent and a newly-issued 20-year bond at 13.00 percent.

Both issuances have a maturity date of January 22, 2026, and January 21, 2042, respectively.

DMO also revealed the auction has a term-to maturity period of 4 years and 20 years.

Read also: DMO debunks reports of national assets being mortgaged over Chinese loans

“Successful bids for the 12.50% FGN JAN 2026 & 13.00% FGN JAN 2042 were allotted at the Marginal Rates of 11.50% and 13.00%, respectively,” the statement reads.

“However, the original coupon rates of 12.5000% for the 12.5000% FGN JAN 2026 will be maintained, while the coupon rate for the 13.00% FGN JAN 2042 (New Issue), is set at 13.00%.”

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