The Federal Government has disclosed that it raised about N418.197 billion from the four bonds that were auctioned in January 2024.
The Debt Management Office (DMO) disclosed this in its FGN bond auction result for January 2024.
The auction which took place on January 29, 2024, saw the reopening of the 10-year 16.2884 per cent FGN MAR 2027, the 10-year 14.55 per cent FGN APR 2029, the 10-year 14.70 per cent FGN JUN 2033, and the 15-year 15.45 per cent FGN JUN 2038 bonds.
The sum of N90 billion was offered for the 16.2884 per cent FGN MAR 2027 bond. A subscription of N166.997 billion, representing an oversubscription of N76.997 billion was received, with bids ranging between 12.00 per cent and 18.50 per cent. However, only N86.187 billion was allotted with the marginal rate being 15.00 per cent.
Another N90 billion was offered for the 14.55 per cent FGN APR 2029 bond. A subscription of N56.839 billion was received, representing an under-subscription of N33.161 billion, with bids ranging between 12.50 per cent and 18.00 per cent. However, the total allotted amount was N21.939 billion with a marginal rate of 15.50 per cent.
Similarly, N90 billion was offered for the 14.70 per cent FGN JUN 2033 bond. A subscription of N68.846 billion was recorded, representing an under-subscription of N21.154 billion, with bids ranging between 13.50 per cent and 17.97 per cent. The total allotted amount was N43.346 billion with a marginal rate of 16.00 per cent.
Also, N90 billion was offered for the 15.45 per cent FGN JUN 2038 bond. A subscription of N311.875 billion was received, representing an oversubscription of N221.875 billion with bids ranging from 15.7 per cent and 18.5 per cent. The total allotted amount was N266.725 billion with the marginal rate being 16.50 per cent.
