DMO Reopens Four N360 billion Bonds at a Price of N 1,000 each.

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Four Federal Government of Nigeria bonds worth N360 billion have been posted by the Debt Management Office for subscription at N1,000 per unit.

The first deal is a N90 billion, February 2028 FGN Bond with a 13.98% annual interest rate and a 10-year reopening.

The second sale is a N90 billion, April 2032 FGN Bond with a 12.50 percent annual interest rate and a 10-year reopening. The Jan 2042 FGN Bond, with a N90 billion face value and a 20-year reopening, carries an annual interest rate of 13%.

The fourth offer is the March 2042 FGN Bond, also valued at N90 billion, at an interest rate of 12.98 per cent per annum. The auction date is April 17, and the settlement date is April 19.

“For re-openings of previously issued bonds, successful bidders will pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned plus any accrued interest on the instrument.

Punch.

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