FG raises N110b bonds

At an auction on Wednesday, the federal government raised N110 billion worth of bonds to mature in 2021, 2027 and 2037.

The bond obtained from its website of the Debt Management Office (DMO) shows that fewer bonds were sold at the auction than the N140 billion anticipated.

It also said DMO sold N10 billion of 2021 paper at 16.30 per cent, N35 billion of 2027 re-opened paper at 16.29 per cent and N65 billion of re-opened 2037 paper at 16.29 per cent.

The website stated that subscriptions from investors for the July 2021 bond, stood at N17.29 billion, while that of March 2027, which was reopened, stood at N52.5 billion.

Also, subscriptions for the April 2037 bond, which was also re-opened, stood at N91.67 billion.
Source: News Agency of Nigeria (NAN).