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.
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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.