Nigeria’s Federal Government bond issuance for the month of January 2021, by the Debt Management Office (DMO) recorded an oversubscription of N139 billion to stand at N214.1 billion despite only seeking to raise N75 billion its 20-year bond issuance.
This is contained in the January 2022 FGN bond auction result, released by the DMO on Wednesday.
The Debt Management Office issued two tranches of bonds in its first issuance for the year, reopening its 12.5 FGN 10-year bond and issuing a new 13% FGN 20-year bond, which is set to mature by 2042.
Recall that Nairametrics reported the DMO bond issuance calendar for Q1 2022 last week, which puts the first auction date on 19th January 2022, with the rest coming up on 16th February and 23rd March 2022 respectively.
According to the report on the January auction performance, successful bids for the 12.50% FGN JAN 2026 & 13.00% FGN JAN 2042 were allotted at the Marginal Rates of 11.50% 11.00% – 14.50% 13.0000% and 13.00%, respectively.
However, the original coupon rates of 12.5000% for the 12.5000% FGN JAN 2026 will be maintained. The coupon rate for the 13.00% FGN JAN 2042 (New Issue) is set at 13.00%.