Connect with us


DMO Offers N225bn Bonds For Subscription




Three Federal Government Bonds which are valued at N225 billion for subscription has been offered by the Nigerian Debt Management Office (DMO).

The development was announced in a circular on the website of the DMO’s office.

The bonds include; 14.55 per cent, April 2029 FGN Bond, a 12.50 per cent, April 2032 FGN Bond and a 16.24 per cent, April 2037 FGN Bond.

According to DMO, the bonds would be opened for auction on the 17th of October and the settlement date is October 19, with original tenors of 10 years, 10 years and 20 years

DMO stated, “The bonds are offered at N1,000 per unit subject to a minimum subscription of N50 million, and in multiples of N1,000 thereafter.

“They qualify as government securities within the meaning of Company Income Tax Act and Personal Income Tax Act; and for Tax Exemption for Pension Funds Administrators, among other investors.”

DMO disclosed that they are qualified as assets for liquidity ratio calculation for banks, therefore, listed on NGX Limited and FMDQ OTC Securities Exchange.

The debt office added, “They are backed by the full faith and credit of the Federal Government and charged upon the general assets of the country.”

Get New DJ Mixes

DMO also noted that the successful bidders would pay a price corresponding to the yield-to-maturity bid, including accrued interest on the instrument and the re-opening of the previously issued bonds.

close button