FG OFFERS N150BN BONDS

The Debt Management Office has announced that the Federal Government was offering three bonds worth N150bn for the September auction.
In a release, the DMO stated that the bonds, which were re-openings of previously issued instruments, would be sold in units of N1,000, subject to a minimum subscription of N50m, and in multiples of N1,000.
It was noted that the first bond being offered was the N70bn April 2029 bond with a 19.30 per cent coupon rate for a five-year tenor.
The second bond is the N50bn FGN February 2031 bond with an 18.50 per cent coupon rate for a seven-year tenor and the third bond is the N30bn FGN May 2033 bond with a 19.89 per cent coupon rate for a nine-year tenor.
According to the DMO, the bonds were auctioned on September 23, 2024, with a settlement on September 25, 2024.