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Business Finance Info & Updates

DMO offers N150bn FG bond for January

The Debt Management Office (DMO) has announced the offer of Federal Government (FGN) bonds January 2021, valued at N150 billion for subscription. Investment newsletter from Nigerian Investment Promotion Commission (NIPC), stated this according to a notification released by DMO over the weekend. 

The statement revealed that the offer has three tranches: N50, 000,000,000 – 16.2884 per cent FGN March 2027 (10-year re-opening); N50, 000,000,000 – 12.50 per cent FGN March  2035 (15-year re-opening) and N50, 000,000,000 – 9.80 per cent FGN July 2045 (25-year re-opening).

Other key highlights of the recent offer includes: units of sale: N1, 000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter. The auction date is January 20, 2021, settlement date is January 22, 2021 while the interest payment is payable semi-annually. 

Checks revealed that the latest FGN bond offer across three maturities is N90billion more than amount offered in the previous month (December 2020) at N60billion, indicating an increase of 150 per cent.

Sunnews

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