DMO floats four N360bn FGN bonds for subscription

The Debt Management Office (DMO) has floated four Federal Government of Nigeria Bonds worth N360 billion for subscription at N1,000 per unit.

DMO disclosed this on Wednesday in a circular posted on its website.

The agency explained that it has four FGN Bonds with at least a 12 per cent interest rate per annum.

It stated that each bond is valued at N90 billion.

FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on behalf of the Federal Government.

The first offer is a February 2028 FGN Bond valued at N90 billion, at an interest rate of 13.98 per cent per annum (10-year re-opening).

It added that the second offer is an April 2032 FGN Bond, worth N90 billion, with an interest rate of 12.50 per cent per annum (10-year re-opening).

Also, there is the Jan 2042 FGN Bond worth N90 billion, with an interest rate of 13.00 per cent per annum (20-year re-opening).

The fourth offer is the March 2042 FGN Bond, valued at N90 billion, at an interest rate of 12.98 per cent per annum.

The auction date is April 17, and the settlement date is April 19.