Nigerian govt. debut 30-year bond oversubscribed by over 400%- DMO - Premium Times Nigeria

The Debt Management Office on Wednesday announced a 400 per cent oversubscription of the maiden edition of its 30-year Federal Government bond.

“A total subscription of N80.41 billion was received from investors for the N20 billion offered by the DMO for the 30-year Bond, representing over 400 per cent subscription rate,” the DMO said in a press statement. Besides, she said the instrument, for the private sector, will provide an avenue for other issuers, such as corporates, to access longer-term funding for their projects.

The DMO said the N20 billion 30-year paper would mature in April 2049; the 10-year issue of N40 billion to mature in April 2029 and a five-year re-opening of N40 billion to mature in April 2023.She said the bonds were considered, given the relatively low-interest rates compared to 2017 levels of more than 18 per cent.

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FG records oversubcription of debut 30-year bond for April – Daily TrustInvestors keenly contested for the N20 billion 30-year Federal Government of Nigeria (FGN) bond offered by the Debt Management Office (DMO) at the April 2019 FGN Bond Auction. For the first time, the DMO introduced the 30-year FGN Bond into the market at the April 2019 FGN Bond Auction which held on Wednesday, April 24, …
Source: Daily Trust - 🏆 13. / 51 Read more »