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  • Business - Market Data
  • Updated: December 08, 2021

Nigeria Set For Another N100 Billion Bond

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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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In a move to provide adequate funding for the Federal Government of Nigeria, the Debt Management Office (DMO) has offered another N100 billion bond for subscription in December.

According to the DMO, through a circular issued on its official website, https://www.dmo.gov.ng/fgn-bonds/, the bonds are to be splitted in two.

The first is a 10-year N50 billion re-opening bond with a 12.50% coupon yield set to mature in January 2026.

The second class of bond is a 20-year N50 billion re-opening bond with a coupon yield of 16.2499%, set to mature in April 2037.

The auction date, according to the DMO, is set for Wednesday, December 15, 2021, with the settlement date scheduled to take place on Friday, December 17, 2021.

The sales unit will be N1,000 per unit, subject to a minimum subscription of N50,001,000 and in multiples of N1,000 thereafter.

The interest payment is payable semi-annually.

The DMO stated that this bond qualifies as securities in which trustees can invest under the Trustees Investment Act.

The general investing public is hereby advised to subscribe to any of these FGN Bonds on the Nigerian Stock Exchange, FMDQ OTC Securities Exchange, and contact any of the following primary market dealers (PMA) on their website, the circular said.

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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...

More From this Author

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