The 2026 and 2020 maturing notes are reopenings of previously issued paper, while the 2036 maturing note is a fresh issue.
This came against the plan to raise about N390 billion in total local borrowing by end of this quarter, less than three weeks from now.
This is also expected to be tied to the total borrowing plan for N984 billion local bond issue in 2016 fiscal plan.
A breakdown of the instrument shows that a N40 billion worth of the bond will be issued with a maturity date in 2036, another N40 billion of the paper maturing in 2026 and the balance N20 billion of the debt maturing in 2020.
About N60 billion worth of the instrument with 2026 and 2020 maturity dates are re-openings of the previously issued papers, while the 2036 dated instrument is a fresh issue.
In the first debt auction of this year, which took place January 20, 2016, the DMO issued N40 billion and N60 billion of bonds maturing in 2020 and 2026.
The 2020 debt is a re-opening of a previously issued instrument, while the 2026 debt is a new issue. DMO said it will issue between N40 billion and N60 billion in fresh instruments in each of the first three months of the year.
The Federal Government plans to raise N984 billion in domestic borrowing and N900 billion from foreign debt market to fund the N2.22 trillion deficit in the N6.08 trillion 2016 budget.
The deficit will take the country’s overall debt profile to 14 per cent of the gross domestic product, GDP.
