DMO plans to raise N60bn bonds on May 13

The Debt Management Office (DMO) has said it plans to raise N60 billion worth of bonds in three categories on May 13.

In a circular posted online by the Office, Tuesday, it disclosed that the three categories of bonds will include 20-year bonds, 10-year bonds and five-year bonds.

The DMO also said that it would issue N20 billion worth of each bond in the three categories, adding that the three categories of bonds would mature in July 2034, March 2024 and February 2020 respectively. The three categories of bonds would open with different coupon rates.

According to the Office, the 20-year, 10-year and five-year bonds would have coupon rates of 12.15 per cent, 14.20 per cent and 15. 54 per cent, respectively.

The DMO said that all the bonds would be re-opened.