• Business - Market Data
  • Updated: February 17, 2022

DMO N150 Billion Bond Oversubscribed

At this month's bond auction, the DMO offered investors securities totaling NGN150 billion.

The 12.5 percent FGN JAN 2026 Bond was also re-opened with details below:

  • (Bid-to-offer declined by 4.3bps with the Stop rate closing at 10.95 percent, compared to its previous rate of 11.50 percent.

The 13.00 percent FGN JAN 2042 bond with details below

  • Stop rate stayed unchanged at 13.00 percent.

Demand surpassed expectations, with institutional and retail investors driving the offer up by 3.7 percent, with demand reaching NGN557.72 billion, up from NGN325.24 billion at January's auction; bid-to-offer: 2.2 percent.

The DMO ultimately over-allocated instruments valued at NGN297.39 billion.

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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