N150bn worth of bonds up for subscription June 17 – DMO

The Debt Management Office (DMO) says N150 billion worth Federal Government bonds will be for subscription June 17.

The DMO said in a circular its website , that the five-year re-opening bonds N40 billion to mature in April 2023 was offered at 12.75 per cent.

It said that the 15-year re-opening bonds N50 billion to mature in March 2035 would be auctioned at 12.50 per cent.

It added that the N60 billion 30-year bonds, to be due in March 2050, would be auctioned at 12.98 per cent.

According to the DMO, units of sale N1,000 per unit, subject to a minimum subscription of N50 million and in multiples of N1,000 thereafter.

The DMO explained that the bonds are backed by full faith and credit of the Nigerian Government, with interest payable semi-annually to bondholders, while bullet repayment would be made maturity date.

sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and its budget deficit. ()