Bond auction: DMO raises N66.9bn in July


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.

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