FG seeks N180 billion from bond market in October

The Federal Government of Nigeria, through the Debt Management Office (DMO), is seeking to raise N180 billion from the bond market in October 2024. This is an increase of 20% from the N150 billion offered in the previous month. According to the bond offer circular released by the DMO, two re-openings of previously issued bonds […]

The Federal Government of Nigeria, through the Debt Management Office (DMO), is seeking to raise N180 billion from the bond market in October 2024.

This is an increase of 20% from the N150 billion offered in the previous month.

According to the bond offer circular released by the DMO, two re-openings of previously issued bonds are being auctioned.

The first bond is the N90 billion 19.30% FGN APR 2029 (5-year reopening), while the second is the N90 billion 18.50% FGN FEB 2031 (7-year reopening).

Both bonds will be auctioned on October 21, 2024, with settlement set for October 23, 2024.

The units of sale are pegged at N1,000 per unit, with a minimum subscription requirement of N50,001,000.