DMO say FG’s August Bonds Oversubscribed by N210.02bn

    0
    497
    spot_img

    The Federal Government’s bonds worth N150bn for August, which were auctioned last Wednesday, were oversubscribed by N210.02bn, the Debt Management Office has said.

    The total subscription received from investors for the bonds was N360.02bn, comprising N77.69bn for 13.98 per cent FGN February 2028 bonds, N104.95bn for 12.40 per cent FGN March 2036 bonds, and N177.38bn for 12.98 per cent FGN March 2050 bonds.

    The auction result showed that out of 83, 138 and 186 total bids for the tenures, 54, 126 and 125 were successful.

    A total of N260.09bn was allotted, comprising N64.25bn, N91.03bn and N104.81bn respectively.

    The DMO said, “Successful bids for the 13.980 per cent FGN February 2028, 12.4000 per cent FGN March 2036 and 12.9800 per cent FGN March 2050 were allotted at the marginal rates of 11.6000 per cent, 11.7500 per cent and 12.8000 per cent, respectively.

    “However, the original coupon rates of 13.9800 per cent for the 13.9800 per cent FGN February 2028, 12.4000 per cent for the 12.4000 per cent FGN March 2036 and 12.9800 per cent for the 12.9800 per cent FGN March 2050 will be maintained.”

    It said the bonds for auction on August 18, 2021 had a settlement date of August 20, 2021.

    The debt office had earlier disclosed through its website that the Federal Government’s bonds worth N150bn for July were oversubscribed by N136.11bn

    The total subscription received from investors for the bonds was N286.11bn, comprising N56.41bn for 13.98 per cent FGN February 2028 bonds, N73.44bn for 12.4 per cent FGN March 2036 bonds, and N156.26bn for 12.98 per cent FGN March 2050 bonds.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here