Bond auction: DMO raises N66.9bn in July

0
873

The Debt Management Office (DMO) raised N66.9 billion at the FGN Bond Auction yesterday as part of the federal governments capital raising for the 2018 Budget.

In a statement by Chinenye Onu, the DMO offered FGN Bonds in three tenors of 5, 7 and 10 years to give its investors an opportunity to choose their preferred tenors.

The statement further noted that the Investors showed strong preference for the 10-year Bond with a total subscription of N50.51 billion compared to the N40 billion that was offered.

The FGN Bonds at the Auction were allotted at 13.69 per cent for the 5-year, 14.00 per cent for the 7-year and 14.2999 per cent for the 10-year Bond.

Leave a Reply

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