FG received N80bn through bond auction

Kindly Share This Story:

The Debt Management Office (DMO) initially targeted to raise N100 billion. It got subscriptions of N117.58 billion, more than half skewed towards the 10-year bond.

The DMO sold N27.18 billion in five-year bonds at 13.70 per cent and N52.44 billion in 10-year debt at 13.98 per cent. The five-year bond is due in 2021, the 10-year, a new offering, in 2028.

Investors bid as high as 16 per cent for the bonds at the auction.

The government has been working to lower its borrowing costs, particularly as inflation fell for the 12th time in a row in January. It sold Eurobonds last Thursday to help repay some treasury bills rather than rolling them over as it has done in the past.

Investors are waiting for the debt office to announce which bills it intends to pay off and a reduction in auction volumes for second quarter, which could spur buying.


Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

x
%d bloggers like this: