FG To Raise N105billion From 12.4% Bond Set for Maturity in 2036

The Debt Management Office, DMO, would today, Wednesday, June 8, raise N105 billion through the reopening of three Federal Government Of Nigeria (FGN) bonds.

These bonds had been previously issued with maturities ranging between five to 20 years.

The debt office said it would raise N50 billion from the 12.4 per cent FGN Bond maturing in 2036, N40 billion on 12.5 per cent paper maturing in 2026 and N15 billion on 15.54 per cent FGN debt maturing in 2020.

In May, the debt office had raised less than it planned as against N105 billion which it planned to raise, it was able to raise N52.5 billion.

It had raised N7.5 billion through the 15.54 per cent February 2020 FGN bond at 13.249 per cent as against N15 billion.

Also, N20 billion was raised from 12.5 per cent January 2026 FGN bond at 13.7430 per cent compared to N40 billion that was planned, while N25 billion was raised through the 12.40 March 2036 FGN bond instead of the N50 billion it meant to raise.