Debt Management Office (DMO) on yesterday said it would sell bonds worth N50 billion. The bonds comprise N25 billion of three-year paper and N25 billion in the 10-year paper.
This is contained in the DMO March 2014 FGN Bond Offer Circular, posted on the company's Website.
The circular indicated that the bonds would mature in August 2016 and March 2024, respectively. It said that both would be auctioned on April 23 with settlement dates of April 25, this year.
It added that the three-year and 10-year bonds were re-opened. The DMO also said that the 2016 instruments attracted 13.05 per cent and 14.20 per cent coupon rates respectively.
It was gathered that the sale is the fourth monthly debt auction for 2014.
The DMO on March 6 issued two tranches of Federal Government bonds, totaling N90 billion to investors.
The bonds had tenors between three and 10 years with coupon rate of 13.05 per cent and 10.00 per cent, respectively.
DMO to Sell Bonds Worth N50Bn
Comms Week17 Apr 20140 Comments
Debt Management Office (DMO) on yesterday said it would sell bonds worth N50 billion. The bonds comprise N25 billion of three-year paper and N25 billion in the 10-year paper. This is contained in the…
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