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FG to auction N70bn bonds on March 21- DMO

DMO Director General, Patience Oniha

By Folasade Folarin

 The Federal Government has offered for subscription by auction N70 billion worth of bonds in its March 21
auction, says the Debt Management Office (DMO).

The offer circular obtained from its website on Tuesday in Abuja, said that it would sell N10 billion of a five year re-opening bond maturing in July 2021 at 14.50 per cent.

It would also sell N30 billion seven year new issue to mature in March 202, at an undisclosed interest rate and another N30 billion 10 year re-opening at 13.98 per cent to mature in Feb. 2028.

Nigeria issues sovereign bonds monthly to support the local bond market, create a benchmark for corporate issuance and fund its budget deficit.

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