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DMO offers N150bn from 3 instruments

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DMO offers N150bn from 3 instruments

The Debt Management Office (DMO) on Wednesday offered N150 billion from three Instruments. five- year, 10-year and 30-year bonds for N50 billion each to investors at the auction.


The statement issued by DMO in Abuja indicated that the bond Auction by the DMO which took place on Wednesday, Nov. 20, was highly oversubscribed.

The DMO explained that the total subscriptions received through Competitive bids for the instruments at the Auction was N252.35 billion, indicating a subscription level of 168.23 per cent.

It said that the trend of investors’ appetite for the longer tenored instruments continued with subscription of N115.09 billion or 230.18 per cent for the 30-year Bond.

According to the statement, the successful bids are allotted at the rate of 12.0000 per cent for the 5-year, 12.9300 per cent for the 10-year and 13.3900 per cent for the 30-year Bonds.

“The allotment rates indicated a significant decline from the rates at which the Bonds were issued at the October 2019 FGN Bond Auction.

“The total amount allotted for Competitive Bids was N157.93 billion across the three tenors. In addition, the sum of N95.00 billion was allotted through Non-Competitive Bids for all the tenors at the same rates as the Competitive Bids.

“Overall, the sum of N252.93 billion is allotted to investors at the auction through both Competitive and Non-Competitive Bids” it added.

Edited by Ese E. Ekama (NAN)

Mustapha Sumaila: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

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