Investors have showed a stronger demand for Nigeria’s 30-year Bond with subscription of over N100 billion as against the N30 billion offered in the May 2019 FGN bond auction.
A statement from the Debt Management Office (DMO) issued on Wednesday said “this clearly indicates that the DMO understands the needs and preferences of investors in terms of tenor, which informed its introduction of the 30-year Bond.”
The also noted that five and 10-year instruments were equally oversubscribed, with subscription of N45.98 billion and N124.22 billion respectively, compared to the N35.00 billion offered for each of the instruments.
According to the DMO, “in addition to the strong demand, interest rates demanded by investors also significantly declined for all the instruments compared to the April 2019 Auction.”
Allotments were made to successful Bidders at 14.11% for the 5-year, 14.24% for the 10-year and 14.49% for the 30-year Bond.
The Debt Management Office (DMO) offered three (3) instruments for five, 10 and 30-year tenors to the investing public.
