DMO Offers N84bln Worth Of Bonds For Sale

The Debt Management Office (DMO) is offering for sale Federal Government bonds worth N83.91 billion, the News Agency of Nigeria? (NAN) reports.

The DMO, which posted details of the bonds on its Website, said the bids for the bonds opened on Wednesday.

In the summary of offer to dealers, the DMO said that the bonds would be in three categories.

The bonds are categorised into five-year bond of N30 billion, seven-year bond of N30 billion and 10-year bond of N23.19 billion.

The five-year bond and 10-year bond are being re-opened with marginal rate of 15.10 per cent and 16.39 per cent, respectively, while the seven-year bond is a new issue.

The DMO said that the three categories would mature in April 2017, January 2020 and June 2019, respectively.