Connect with us

Business

FG’s January bonds oversubscribed by N88.28bn

Published

on

Ben Diamond

The Federal Government’s bonds for January worth N150bn which were auctioned on Wednesday were oversubscribed by N88.28bn, the Debt Management Office disclosed on its website.

The total subscription received from investors for the bonds was N238.28bn, comprising of N91.84bn for 16.2884 per cent FGN March 2027 bonds; N106.37bn for 12.5 per cent FGN March 2035 bonds; and N40.07bn for 9.8 per cent FGN July 2045 bonds.

The auction result added that out of the 125, 99 and 77 total bids for the tenures, 73, 44 and 28 bids were successful.

It stated that a total of N122.36bn was allotted comprising of N49.4bn, N57.93bn and N15.03bn respectively for the tenors.

The DMO stated, “Successful bids for the 16.2884 per cent FGN MAR 2027, 12.5 per cent FGN MAR 2035 & 9.8 per cent FGN JUL 2045 were allotted at the marginal rates of 7.98 per cent, 8.74 per cent and 8.95 per cent respectively.

“However, the original coupon rates of 16.2884 per cent for the 16.2884 per cent FGN March 2027, 12.5 per cent for the 12.5 per cent FGN March 2035 and 9.8 per cent for the 9.8 per cent FGN July 2045 will be maintained.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Twitter Auto Publish Powered By : XYZScripts.com