FG to auction N150bn bonds at 12% in 7 days | Dailytrust

FG to auction N150bn bonds at 12% in 7 days

The Debt Management Office (DMO)
The Debt Management Office (DMO)

As part of capital raise to finance the 2020 budget, the Debt Management Office (DMO), will in seven days’ time, offer a 10, 15, 25 and 30 year bond at 12.50 percent, 12.50 percent and 9.80 percent and 12.98 percent interest rates respectively.

This was contained in a document published on the Debt Management Office (DMO) website.

It showed a breakdown of N150 billion bond that includes 10 year reopening N25bn bond which would mature in January 2026.

The 15 year N40bn bond that would mature in March 2035, a N45bn 25year reopening bond that would mature in July 2045, and another N40bn bond 30 year reopening that would mature in March 2050.

The document also showed that the auction date is August 19, 2020 and the settlement date is August 21, 2020.

In a separate post earlier on Monday, DMO announced a two and three year savings bonds offer for August at 3.61 percent and 4.61 percent interest rates.

“The interest payment of the bond is payable quarterly, and the bond costs N1,000 per unit, subject to a minimum subscription of N5,000 and in multiples of N1,000 subject to a maximum subscription of N50,000,000,” it said.

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
Media Trust Ltd

Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410