The Debt Management Office (DMO) has announced the offering of three Federal Government of Nigeria (FGN) bonds.
The bonds are valued at N300 billion for subscription at N1, 000 per unit.
The first offer is an April 2029 FGN bond valued at N100 billion, at interest an rate of 19.30 per cent per annum (five-year re-opening).
The second offer is a February 2031 FGN valued at N100 billion, at an interest rate of 18.50 per cent per annum (seven-year re-opening).
There is also the May 2033 FGN bond, valued at N100 billion, at 19.88 per cent interest rate per annum (nine-year re-opening).
They are offered at N1, 000 per unit subject to a minimum subscription of N50million and in multiples of N1, 000 thereafter.
“Interest is payable semi-annually, while bullet repayment (principal sum) is on the maturity date,” the DMO said.
“It said that for re-opening of previously issued bonds, successful bidders would pay a price corresponding to the yield-to-maturity bid that clears the volume being auctioned, plus any accrued interest on the instrument.”
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