Business

Investors Oversubscribe FGN’s March Bond By N183.48bn

The Debt Management Office (DMO) has disclosed that the Federal Government of Nigeria’s bonds for March worth N150bn which were auctioned on Wednesday were significantly oversubscribed by N183.48bn.

DMO stated that the total subscription received from investors for the bonds was N333.48bn comprising of N65.25bn for 16.2884 per cent FGN March 2027 bonds; N110.19bn for 12.5 per cent FGN March 2035 bonds; and N158.04bn for 9.8 per cent FGN July 2045 bonds.

The auction result revealed that out of 82, 125 and 215 total bids for the tenures, 48, 88 and 176 were successful.

It stated that a total of N262.1bn was allotted, comprising of N44.01bn, N86.29bn and N131.80bn respectively.

Investors Oversubscribe FGN's March Bond By N183.48bn

“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 10.5 per cent, 11.5 per cent and 12 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,” DMO said.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
%d bloggers like this:
Close Bitnami banner
Bitnami