DMO offers 3 FGN bonds for auction

Abuja, Sept. 24, 2024 -The Debt Management Office (DMO) is offering three Federal Government Bonds worth N150 billion for auction.

The DMO announced this in a statement on Tuesday.

The DMO said the bonds, which were the re-openings of previously issued instruments, would be sold in units of N1,000, subject to a minimum subscription of N50 million in multiples of N1,000.

The first bond being offered is the N70 billion April 2029 bond with a 19.30 per cent coupon rate for a five-year tenor.

The second bond is the N50 billion FGN February 2031 bond with an 18.50 per cent coupon rate for a seven-year tenor.

 The third bond is the N30 billion FGN May 2033 bond with a 19.89 per cent coupon rate for a nine-year tenor.

The DMO said the bonds auction date is on Sept. 23, 2024, while the settlement date is Sept. 25, 2024.

The office, had in August, offered two Federal Government savings bonds for subscription at N1,000 per unit.   (GBN)