FG’s Bond for January Oversubscribed by N88.28bn

federal government of Nigeria

The Federal Government’s bonds for January which were auctioned on Wednesday were oversubscribed by N88.28bn. This was disclosed by the Debt Management Office on its website.

The Federal Government’s bonds for January worth N150bn which were auctioned on Wednesday were oversubscribed by N88.28bn, the Debt Management Office disclosed on its website.

The total subscription received from investors for the January bonds worth N150bn was N238.28bn.

The auction result stated that a total of N122.36bn was allotted comprising of N49.4bn, N57.93bn and N15.03bn respectively for the tenors.

This comprises of N91.84bn for 16.2884 per cent FGN March 2027 bonds; N106.37bn for 12.5 per cent FGN March 2035 bonds; and N40.07bn for 9.8 per cent FGN July 2045 bonds.

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The DMO stated, “Successful bids for the 16.2884 per cent FGN MAR 2027, 12.5 per cent FGN MAR 2035 & 9.8 per cent FGN JUL 2045 were allotted at the marginal rates of 7.98 per cent, 8.74 per cent and 8.95 per cent respectively.

“However, the original coupon rates of 16.2884 per cent for the 16.2884 per cent FGN March 2027, 12.5 per cent for the 12.5 per cent FGN March 2035 and 9.8 per cent for the 9.8 per cent FGN July 2045 will be maintained.”