The Debt Management Office (DMO) has disclosed that it was offering a bond subscription of N150 billion by auction on the Federal Government’s behalf.
This was revealed in a document obtained by BizWatch Nigeria, stating the breakdown of the bonds into three phases.
The document revealed that each of the phases would be offered at various rates: the first would be at the rate of 16.28 percent, with a maturity date of March 2027 (10-year reopening).
The second would be offered at a rate of 12.50 percent and is expected to mature in March 2035 (15-year reopening) while the third would be offered at a rate of 14.80 percent, with the maturity date set as April 2049 (30-year reopening).
READ ALSO: CBN’s Policy To Push Nigeria’s Diaspora Remittances To $22bn – Report
According to the document, the date of the auction is 19 May 2021 while the settlement date is 21 May 2021.
In its summary, it noted that the bond’s units of sale would be set at N1,000 per unit to a minimum subscription of N50 million and in multiples of N1,00 thereafter.
Interest rates would correspond to the yield-to-maturity bid that clears the volume that is put up for auction, with any interest it attracts.
 has disclosed that it was offering a bond subscription of N150 billion by auction on the Federal...){kind=link}