Connect with us


DMO reopens FGN bonds subscription offer at 15.70%



Debt Management Office

The Debt Management Office (DMO) has reopened subscription offers for 10year, 15year and 30year FGN bonds for April 2029, June 2033, June 2038 and June 2053 at 14.55%, 14.70%, 15.45% and 15.70% respectively.

This announcement was made in a statement on the DMO’s official website. The auction date is October 16th while the settlement date is October 18th.

The statement reads,

The federal government hopes to raise N90bn for two 10-year bonds at interest rates of 14.55% and 14.70% respectively.

For the 15-year and 30-year tenure bonds, the interest rate is 15.45% and 15.70% respectively.

The DMO outlines the units of subscription as

Interested investors are encouraged to contact stock brokerage firms listed as authorized agents by the Debt Management Office (DMO) and the bonds are traded on the NGX (Nigerian Exchange Group).

It is important to note that FGN bonds are fully backed by the federal government of Nigeria.

The DMO encouraged interested investors to contact Primary Dealer Market Makers (PDMMs) such as First Bank, Access Bank, United Bank for Africa Plc, Zenith Bank Plc, etc.