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FG’s January bond auction oversubscribed, N300bn received – DMO
The Debt Management Office, DMO, says its Federal Government of Nigeria (FGN) bond auction, just concluded for January, was oversubscribed.
DMO, which made it known in a statement on Thursday, indicated that the auction received a total of 160 offers.
He disclosed some minor adjustments to the bond offering during the auction.
“Our FGN bond auction for January 2022 concluded yesterday with a total of 160 successful bids.
“The auction recorded an oversubscription of N111 billion and N214 billion for the January 2026 and January 2042 bond offerings, respectively.
“The winning bids for 12.5% FGN in January 2026 and 13% in January 2042 were awarded at marginal rates of 11.5% and 13%, respectively.
“However, the original coupon rates of 12.5% for the FGN of January 2026 will be maintained, while the coupon rate of 13% of FGN 2042 (new issue) is set at 13%”, he explained.
Recall that the DMO had recently published a bond issuance schedule for the first quarter of 2022
