DMO to auction N150bn bonds

The Debt Management Office (DMO) has announced the auctioning of three sets of N50 billion bonds.

In a statement on its website, DMO stated that the bonds with interest of 16.2884 percent, 12.50 percent and 9.80 percent would be reopened in 10, 15 and 25 years respectively.

• Police kill 4 pirates, one robbery suspect in Akwa Ibom 
• Woman turns down marriage proposal over insult on Kwankwaso

DMO placed the date of auctioning on April 21 and settlement on April 23 with unit sale at “N1,000 per unit subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.”

It stated that 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.”

The DMO said interest would be paid semi-annually with bullet repayment on the maturity date and urged interested investors to contact banks approved by the commission.