The Debt Management Office has disclosed that the federal government will offer N150bn bonds for subscription in March.
It said the bonds which would be auctioned on March 24 have a settlement date of March 26.
They are 10-year reopening bond to be offered at the rate of 16.888 per cent and to mature in March 2027; a 15- year reopening bond to be offered at 12.5 per cent and mature in March 2035; and the third and longest bond which is a 25-year reopening bond to be offered at 9.8 per cent and mature in July 2045.
The total subscription received from investors for the bonds was N189.51bn, comprising of N77.05bn for 16.2884 per cent FGN March 2027 bonds; N72.33bn for 12.5 per cent FGN March 2035 bonds; and N40.13bn for 9.8 per cent GFN July 2045 bonds.
“Successful bids for the 16.2884 per cent FGN March 2027, 12.5 per cent FGN March 2035 and 9.8 per cent FGN July 2045 were allotted at the marginal rates of 10.25 per cent, 11.25 per cent and 11.8 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,” it said.
