Nigeria’s DMO to Auction N65bn Bonds on Nov 12

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Dr. Abraham NwankwoNigeria- The Debt Management Office (DMO) in its ‘Bond Circular’ on Friday said it would raise N65 billion worth of bonds in three categories on Nov.12.

According to the DMO, the three categories of bonds will include a 20-year bonds, 10-year bonds and three-year bonds.

The DMO said that it would issue N25 billion worth of the 20-year bond, N30 billion in 10-year and N10 billion worth of the three-year bonds.

It said the three categories of bonds would mature in July 2034, March 2024 and August 2016, respectively.

The DMO said that the three categories of bonds opened with different coupon rates.

The 20-year, 10-year and three-year bonds would have coupon rates of 12.15 per cent, 14.20 per cent and 13.05 per cent, respectively.

It said that while the bonds would be auctioned on Nov.12, the settlement date would be Nov. 14

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