Despite the lull in activities in the bond market, the Debt Management Office (DMO) plans to raise to raise between N140 billion ($870 million) and N250 billion ($1.56 billion) over the next three months, its issuance calendar for FGN bonds for Q3 2013, has revealed.
When compared with the range of N230 billion to N410 billion for the second quarter of the year, it showed that the DMO is concerned at the situation in the market by reducing its activities.
At last month’s auction, investors had collected just N21 billion of the N85 billion offered because the DMO declined the majority of bids, which ranged up to 18.25 per cent for Nigeria’s long bond (10.00 per cent Jul ’30
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