Debt Management Office FG to auction N90bn bonds

The offer circular obtained from its website on Tuesday in Abuja, stated that it would sell N30 billion of a five-year new issue maturing in April 2023.

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FG to auction N90bn bonds play

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(123rf.com)
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The Federal Government has offered for
 subscription by auction N90 billion worth of bonds in its April 25 auction, the Debt Management Office (DMO) said.

The offer circular obtained from its website on Tuesday in Abuja, stated that it would sell N30 billion of a five-year new issue maturing in April 2023 at an undisclosed rate.

It would also sell N30 billion seven-year re-opening bond to mature in March 2025 at 13.53 per cent and another N30 billion 10-year re-opening bond at 13.98 per cent to mature in Feb. 2028.

ALSO READ: FG invests N16.6 bn Sukuk bond on road repair in South East

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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