N100 billion Nigeria bonds go on sale March 27

Share this with friends...

The Debt Management Office (DMO), announced on Tuesday that the Federal Government will be auctioning bonds of N100 billion come March 27.

Bonds are categorised into three based on their maturation period.

The five-year re-opening bonds of N40 billion with maturation period in April 2023 is offered at 12.75 per cent.

Seven-year re-opening bonds also of N40 billion, maturing in March 2025 goes at the rate of 13.53 per cent.

And the 10-year re-opening bonds of N20 billion, due in Feb. 2028, will be auctioned at 13.98 per cent.

The DMO further revealed that units of sale is N1,000 per unit, subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter.

It assured investors of safety of their investment as the bonds are backed by the full faith and credit of the Nigerian Government, with interest payable semi-annually to bondholders, while bullet repayment will be made on maturity date.

Sovereign bonds are auctioned monthly to support the local bond market, create a benchmark for corporate issuance and fund Nigeria’s budget deficit.

Share this with friends...