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Investors Oversubscribe FGN’s July Bonds By N340.13bn

Investors’ interest in the Federal Government Bonds appeared to be intact as they staked about N470.13bn for the N130bn July bond.

Figures released by the Debt Management Office (DMO) showed the FGN Bond auction, which was done on Wednesday, was significantly oversubscribed by N340.13bn.

The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for the 12.5 per cent FGN January 2026 bonds; N60.32bn for the 12.5 per cent FGN March 2035 bonds; N130.27bn for the 9.8 per cent FGN July 2045 bonds; and N207.57bn for the 12.98 per cent FGN March 2050 bonds.

Investors Oversubscribe FGN's July Bonds By N340.13bn

The 12.5 percent FGN January bond was offered for N25bn, while the other three bonds were offered for N35bn each.

The DMO said that 36, 58, 70 and 29 were successful bids for the total bids for each bonds auction of 97, 87, 131 and 189 bids.

According to the DMO, successful bids for the 12.5000 per cent FGN January 2026, 12.5000 per cent FGN March 2035, 9.80 per cent FGN July 2045 and 12.9800 per cent FGN March 2050 were allotted at the marginal rates of six percent, 9.5 percent, 9.8 percent and 9.95 percent respectively.

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