FG makes N90 bn from bonds in April auction

0
375

The Federal Government allotted N90 billion in its April auction, the Debt Management Office (DMO) said on Wednesday.

The auction result obtained from DMO’s website in Abuja, said it sold N12.75 billion in seven-year bonds at 13.53 per cent and N38.96 billion 10-year bond at 13.98 per cent.

It, however, introduced a new five-year bond at at 12.75 per cent, raising N38.29 billion for it.

The result noted that successful bids for the 12.75 per cent April 2023, 13.53 per cent for March 2025 and 13.98 per cent for Feb. 2028 were allotted at the marginal rates of 12.75 per cent, 12.85 per cent and 12.89 per cent, respectively.

“However, the original coupon rates of 13.53 per cent for the 13.53 per cent March 2025 and 13.98 per cent for the 13.98 per cent Feb. 2028 will be maintained, while the coupon rate for the 12.75 per cent for April 2023 (New Issue) is set at 12.75 per cent.”

It added that N25 billion of the 13.53 per cent March 2025 and N25 billion of the 13.98 per cent Feb. 2028 was allotted on non- competitive basis.

The News Agency of Nigeria (NAN) reports that Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit. (NAN)

SHARE
Previous articleBoko Haram: Committee submits reports, identifies 6,512 detainees
Next articleN2.4b rice donated by Chinese government intact – NEMA DG
Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.