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FGN Bonds issued in August auction attracted N139.58bn in subscriptions —DMO

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The Debt Management Office (DMO) on Wednesday disclosed that Nigeria’s FGN Bond has continued to attract strong demands from investors.

At the end of August 2019 FGN Bond Auction on Wednesday, DMO issued FGN Bonds for three tenors offered to various investors who subscribed at the auction.

DMO in a statement said it “offered N40 billion for the 5-year, N50 billion for the 10-year and N55 billion for the 30-year Bonds.

Total subscriptions received from both Competitive and Non-Competitive bids amounted to N139.58 billion.

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“Demand for the 30-year Bond remained strong as has been the trend since the instrument was introduced to the market in April 2019. The total subscription for the Bond at the Auction was N64.71 billion.”

“The total subscription for the 30-year at the auction was N64.71 billion.

“The strong demand from investors for the bonds offered at the auction was in spite of the prevailing tight liquidity experienced in the financial markets”, it added.

The DMO said that allotments were made to successful bidders at the rate of 14.29 per cent for the five year, 14.39 per cent for the 10-year and 14.59 per cent for the 30-year bonds.

According to the auction results obtained from the DMO website, N2.05 billion was allotted to four successful bidders for the five-year and N2.68 billion to five bidders for the 10-year papers.

Ripples Nigeria

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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